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Pent-Up Demand, Then and Now

April 21, 2021

Suppose you’ve been prevented from buying things for a year, or maybe a decade. Now the dishwasher is on the fritz, the tires are nearly…

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It’s Tax Season. Where Do Your Local Taxes Go?

March 18, 2021

Tax season is coming up. This year, federal income taxes are due on May 17th. Indiana’s state and local income taxes are due on April…

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Okun, Phillips and Our Economy

February 15, 2021

If you want to be remembered in economics, get yourself a curve. There’s the Lorenz curve, the Laffer curve, the Kuznets curve, and, probably most…

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The Recession May Be a Light Hit for LIT

January 20, 2021

The December state revenue forecast for Indiana projected that individual income tax revenue would be about $6 billion this year. But Indiana uses local income…

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The State Revenue Forecast: We Might be OK

December 17, 2020

Can it be, is it possible, that 2021 won’t be terrible? The state revenue forecast was released on December 16 to provide a starting point…

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A Tale of Two Recessions

November 19, 2020

It was the worst of times. It was the even worse worst of times. It was the Great Recession of 2007-2009. It was the COVID…

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COVID Recession Makes Farmland Tax Predictions Harder

October 22, 2020

Predictions are hard, especially about the future. Yogi Berra said that. (Unless he didn’t. Yogi also said, “I never said most of the things I…

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Don’t get spun: What’s happening in our economy, right now?

September 16, 2020

Forecasts? Don’t talk about forecasts. You kidding me?  I just want to know what’s happening now! With apologies to Jim Mora, that’s our problem. What’s…

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Rents, Telecommuting and Harry Potter

August 20, 2020

Rents are falling in San Francisco. Keep that in mind as this column wanders along. The wizards in Harry Potter’s Britain use many forms of…

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Trouble for Indiana’s State Budget

July 23, 2020

We got trouble, my friends, with a capital T. The Indiana state budget closeout for fiscal 2020 was held in mid-July, so we have a…

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Recession and the Indiana Property Tax

June 23, 2020

Indiana school districts were relieved when the governor announced that the state would not be cutting aid in the coming fiscal year. With the COVID…

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Our Economic Recovery Depends on Consumers

May 19, 2020

Enough already. The economy is bad. This is the sharpest, deepest recession in 80 years. We get that. Let’s talk about something else. Like, how…

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Indiana’s State Budget in the Corona-Recession

April 20, 2020

How will Indiana’s state budget do in the corona-recession? We don’t know how deep the recession will be, or how long it will last, so…

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Supply and Demand and the Coronavirus

March 16, 2020

The coronavirus is a world tragedy. Millions will get sick and too many will die. All of us will worry about family and friends. All…

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The MLGQ is Long Overdue

February 21, 2020

House Bill 1113 is 139 pages long. It covers lots of local government tax issues. It’s not controversial. It passed the House, with 95 members…

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Farmland Assessments: Is this the End of the Downward Trend?

January 21, 2020

Just after the new year Indiana’s Department of Local Government Finance announced the new base rate for farmland assessment. It was $1,280 per acre. The…

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Gross Domestic Product for Counties

December 17, 2019

We just received the most wonderful gift from the U.S. Department of Commerce, Bureau of Economic Analysis. For the first time ever, the BEA has…

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How Tax Bills Are Calculated, and Where the Money Goes

November 21, 2019

The second installment for Indiana property tax bills was due a couple of weeks ago. If you own a house with a mortgage you probably…

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How Low are Indiana’s Taxes?

October 24, 2019

We’d like our taxes to be low. Sure, we value the schools, police and fire protection, roads and parks and libraries that our taxes support.…

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Money for Schools

September 17, 2019

Spending on K-12 education is by far the largest piece of Indiana government. Appropriations for schools make up half of the state’s general fund budget.…

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