HomeMy WebLinkAbout2007-R-33
RESOLUTION NO. 2007 R ~
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF JEFFERSONVILLE
INDIANA IN SUPPORT OF THE PROPERTY TAX RELIEF ACT OF 2007, H.R. 3726
WHEREAS, the Common Council of the City of Jeffersonville, Indiana, is the
legislative and fiscal body for the City of Jeffersonville, Indian and;
WHEREAS, the Property Tax Relief Act of 2007, H.R. 3726 introduced in Congress by
Congressman Baron Hill (D-IN) will allow homeowners who do not itemize expenses on
their tax returns to deduct their property taxes from their federal incomes taxes.
Currently the only citizens benefiting from the property tax deduction are those who
itemize their taxes, And
WHEREAS, an informal estimate by Indiana's Legislative Services Agency suggests
that Jeffersonville residents who do not itemize their tax returns are expected to pay about
$1,200 on average in property taxes this years, and
WHEREAS, Jeffersonville property owners will benefit from being able to deduct their
property taxes on their federal income tax return, even if they do not itemize their tax
deductions,
NOW, THEREFORE, BE IT RESOLVED that the Common Council of the City of
Jeffersonville, support the Property Tax Relief Act of 2007, and encourage other
members of Congress to do likewise
This Resolution shall be in full force and effe
Passed and adopted this 5Vv day of c~:(.
a er its passage and approval.
ATTEST:
QWI<,f';/; iu<.ld2W
Peg~f ilder, Clerk Treasurer
. 1'-11:1. d " 1
Presented by me as Clerk Treasurer to the Mayor thIS -----L-- ay of' /L(J/4~J~2007.
This ordinance approved and signed by
day of ~, 2007.
Congressman Hill is Providing Real Relief
to Hoosier Homeowners
Property Tax Relief Act
The Property Tax Relief Act of 2007, H.R. 3726, will allow homeowners
who do not itemize to deduct their property taxes from their federal
income taxes. Currently, the only citizens benefiting from the property tax
deduction are those who itemize their taxes.
· Estimates suggest that approximately 400/0 of homeowners do not
itemize.
· Out of2.8 million returns in Indiana last year, only 891,000
(31 percent) included itemized deductions (that includes homeowners
and non-homeowners).
· According to the Congressional Research Service, there are
approximately 942,000 non-itemizers who could be homeowners
in Indiana.
· An informal estimate by Indiana's Legislative Services Agency suggests
that Hoosiers who do not itemize their tax returns are expected to pay
approximately $1,200, on average, in property taxes this year.
· The amount of the tax deduction varies according to one's income,
federal tax rate and property tax bill.
H.R. 3726 is currently pending before the U.S. House Committee on
Ways and Means. The bill's lead cosponsor is Congressman Vito Fossella
(R-NY), and other original cosponsors are Representatives Dan Burton,
Joe Donnelly, Brad Ellsworth, Kirsten Gillibrand, John Hall, Patrick
Murphy and Mike Pence.
This mailing was prepared, published and mailed at taxpayer expense.
.~,