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Some Indiana property owners could face new fees

On Behalf of | Dec 8, 2023 | Real Estate

Property owners need to be up to date on laws that could impact certain payments and be costly to them. When there are disputes, it is imperative to know the law and how to combat projects and legal changes that could be problematic. Such is the case with a new state law that gives the city council the chance to issue fees for pending projects.

Beautification and public safety could cost property owners

The Indianapolis City-County Council could compel those who own property in Mile Square to contribute to projects to beautify and increase safety in the downtown area. It would also ask for funds for a “low-barrier” homeless shelter. This is the type of shelter that asks residents to fulfill requirements to stay there.

The objective is to amass more around $5.5 million annually. There would be a flat fee for residential property owners who would pay $250. Others would pay based on the assessed value of the property. This measure would not pass until there has been a committee approval and a full council vote. There has been pushback from some groups in the past. An attempt to put forth this same measure in 2018, but it failed.

Property owners should understand the law

While the programs that would be implemented could be a net positive including greater cleanliness, addressing the homeless problem, enhancing safety and more, people being asked to make unexpected payments simply because they own property is often called into question.

The outlay for these projects is relatively minor, but people still need to understand their rights under real estate law. Fees and other payments are part of owning property, but with these and other legal changes that arise, it is imperative to have a grasp of the law and know when payments and fees can be fought. Being protected is essential for commercial and residential owners.

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