Indiana taxes rental properties at 2x the rate of a personal house and rentals have no mortgage exemptions, homestead exemptions making the actual taxes about 4x.
Now for another catch 22. I can only have one garage on my property. My pole barn is a second garage. It is taxes at commercial rates, 3x. The taxes on my house are very close to the taxes on my new 30x40 pole barn. If I include my basement, my house is more than 2x the square footage of my pole barn. Keep in mind I get a homestead exemption, a mortgage exemption by just having a home equity line of credit which I don't have to use and for tax purposes my house was built in 1942. In 1991-96 I doubled the size of the house. However back when I added on the age of my house goes back to 1942. That's a good tax advantage.
You got to love Indiana's property taxes.
BTW, I did 95% of remodeling this house. I have very little help. This is my first and last brick job.
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Today's Featured Article - Women and Tractors - Tractor Engine Repair - by Teri Burkholder. One of the great things about working on a tractor engine with your other half is that you know what he is thinking of at all times and can anticipate his every move and his next thought of what he will do. With Ben, anyway, I can tell! He'll be busy working and I�m handing him tools and he says, "give me that..." and I�ve already got it in his hand or "hand me that....."and I�ve got the portable light right where he needed it placed to see. "Run in the house and get me a...."as I open th
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