New Fee Approved for Downtown Indianapolis Property and Residential Owners

New Fee Approved for Downtown Indianapolis Property and Residential Owners

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Downtown Indy

 

INDIANAPOLIS –The City-County Council has approved a new fee for property owners in the central business district, the Mile Square Economic Enhancement District fee. This fee will remain in place for the next ten years with the option to renew. The goal is to raise approximately six million dollars, with more than half allocated to maintaining clean and safe streets. The remaining funds will be used for homeless outreach programs and administrative expenses.

 

Indianapolis pays people to keep the streets clear of trash and police to patrol the area. Some wonder why businesses can’t opt out of the fee.

 

“I don’t understand why they are targeting the mile square when after the riots, businesses left, and now they are going to penalize them? I don’t understand any of that,” former IMPD officer Steve Knight told WISH-TV.

 

Taylor Schaffer, the CEO of Downtown Indy Inc., has stated that the objective of the fee is to make property owners in high-traffic areas realize the direct impact of their services. However, business owners like Greg Bires believe that the fee is unnecessary and that charging businesses still struggling from the pandemic will ultimately drive them away.

 

“What are people thinking to levy a tax like this at a time like this when we are still trying to get back on our feet,” he added.

 

Starting in 2025, all property owners within the Mile Square area must pay a fee. Residential property owners will be charged a flat fee of $250 annually. On the other hand, commercial and apartment building owners will be charged 0.1681% of their properties’ assessed value as the fee.

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