(Vevay, Ind.) - Switzerland County isn’t trying to reinvent the wheel in attracting new businesses.
The county is just keeping taxes low.
Jon Bond with the Switzerland County Economic Development Corporation says the county’s median property tax rate is the fifth lowest among Indiana’s 92 counties. The rate is second lowest in southeast Indiana to Ohio County’s .86 percent median tax rate, according to data from the Indiana Business Research Center at Indiana University.
“This is for taxes payable in 2012. The median property tax rate in Switzerland County is 1.15 percent. This is less that 59 percent of the median property tax rate for Indiana overall at 1.95 percent,” Bond said.
Fourteen counties have a property tax rate more than twice Switzerland County’s.
The SCEDC says for taxes payable in 2012, the total property tax rate for Switzerland County Government was .45 percent. Switzerland County Community Schools tax property at a rate of .59.
Rates vary in each township ranging from .02 to .05 percent. The Town of Vevay’s tax rate is .58 percent while Patriot’s rate is .19.
“The two main factors in determining an individual property tax bill are the assessed valuation of the property and the property tax rate,” said Bond. “A change in either of these two factors can raise or increase an individual tax bill. The methods and guidelines for assessing the tax value of property in Indiana are set by the state, leaving very little control at the local level. Unlike many other counties in Indiana, Switzerland County has been able to keep property taxes lower by maintaining a lower rate.”
Tax rates for all 92 Indiana counties can be found at http://www.stats.indiana.edu/topic/taxes.asp.
