C.L. Coonrod & Company Article

BEA Report: Indiana Now Lags

The Bureau of Economic Analysis (BEA) now reports Indiana lags most other states in income growth. In the last report, Indiana was a leader.

The good news is that Indiana income still shows some growth. At 1.0%, it is close to the national average of 1.1%.

BEA figures are used to determine limits on local government property tax levies. The levy increase factor for 2012 has already been established at 2.9%. However, if BEA reports don’t improve, levy increases will be lower for 2013.

The full text of the BEA report is at this link.

If you have questions or would like further information, please contact us at: Coonrod@Coonrodcpa.com

09/22/11

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This article is intended to provide information of general interest to local government officials in Indiana. The information is not guaranteed to be applicable or appropriate in particular circumstances. Local officials should consult competent professionals before acting on any information contained in this article. We are not attorneys. Advice of a legal nature should be sought only from qualified attorneys.

To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.