If Indianapolis has $52 million less revenue because of Gov. Mitch Daniels’ order to roll back property tax collections to 2006 levels [“$52M tax hit in Indy now, an aftertaste to follow?” Aug. 1], taxpayers have $52 million more of their own money to spend and invest. That’s a good thing, regardless of what local officials say.
Daniels issued the order because of skyrocketing property tax bills. The only cause of skyrocketing tax bills is skyrocketing spending. A $52 million cut from a budget of $1 billion is a drop in the bucket, but it is a good start toward more responsible fiscal management.
Steve Stanek ([email protected]) is a research fellow at The Heartland Institute.