NEW TAXES! YAY!

The IndyStar reports:

"Six Indiana counties have adopted a new local option income tax to help offset the loss of business inventory taxes and lessen the impact of property tax reassessments, according to the Indiana Department of Local Government Finance. Jay County Council two weeks ago imposed the levy growth income tax, the property tax relief income tax and the public safety income tax, for a total new income tax of 0.95 percent, said Auditor Freda Corwin.
Jay County already had a 1.5 percent income tax (a third of which is earmarked for economic development), so the existing and new income taxes combined will total 2.45 percent."

OK, this is wonderful, right? Wrong. While the 0.95 %, only 0.50% of that is for property tax relief. What about the remaining 0.45%? Oh, that would be new taxes!

So the taxpayer is the loser, as usual.