Mayors: End of business equipment tax means lost revenue

The county, cities and towns could lose 5 percent or more of their annual tax income if the state decides to get rid of a tax that businesses pay on equipment.

Gov. Mike Pence wants Indiana to eliminate its personal property tax, which is charged on any equipment used by a business to generate a profit, such as manufacturing machinery, combines and tractors used by farmers, or vehicles and equipment used by small businesses.

The governor said eliminating the tax would make Indiana more attractive to new businesses and allow existing companies to grow, creating new jobs.

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