Each fall, usually just before or during budget hearings, the Indiana Department of Local Government Finance (DLGF) announces the distribution of income tax revenues for the following year to each unit of local government in the County. This week, the COIT distributions for 2013 were released (the report for all units of government in the state is available here). These are income tax receipts that were collected between July 2011 and June 2012 by the state, and will then be distributed to each unit of government in Monroe County over 12 approximately equal monthly payments in 2013.
The page that shows these distributions is available here: Monroe County 2013 COIT Distribution.
Income taxes are collected at-large from individuals (not corporations — there is no local corporate tax in Indiana), and are then distributed to local units of government (the county, the three incorporated cities and towns, townships, the public library, Bloomington Transit, and the Perry Clear Creek Fire Protection District. The distribution to each local unit is based on a formula that roughly corresponds to the relative property tax footprint of the unit of government. What is interesting about this method of allocation is that it doesn’t matter where within the county a taxpayer lives — his or her income tax goes into a big pool and is distributed via the aforementioned formula. So a taxpayer in Polk Township could theoretically see his income taxes support the City of Bloomington, and a resident of Ellettsville could see her income taxes support the Perry Clear Creek Fire Protection District, etc.
For now, here are the COIT distributions for Monroe County for 2013. Tomorrow I’ll provide some additional comparisons to past years, and some interpretation of what the numbers mean.
|Unit Name||2013||2013 %|
|Bean Blossom Township||$37,378||0.2%|
|Clear Creek Township||$61,958||0.3%|
|Indian Creek Township||$23,879||0.1%|
|Salt Creek Township||$19,556||0.1%|
|Van Buren Township||$418,035||1.7%|
|Bloomington Civil City||$9,440,104||39.1%|
|Ellettsville Civil Town||$567,758||2.4%|
|Stinesvill Civil Town||$2,718||0.0%|
|Monroe County Public Library||$2,075,631||8.6%|
|Perry-Clear Creek Fire Protection||$515,177||2.1%|
This means that Monroe County Government, for example, will receive $9,663,002 in income tax over 2013, in 12 approximately equal monthly payments. This is greater than we had been projecting based on past experiences. I will explain why the change in a future blog posting. But in any case, it is very good news for those of us who have to pass a budget for Monroe County Government for 2013!