05 · THE TRAP
Values go up, but the money counties can tax goes down
From The Indiana County Squeeze · From Indiana Gateway parcel data, DLGF and LSA filings, and a 92-county read of council records · October 2026
Values go up, but the money counties can tax goes down
This is the piece that sounds backwards, so it's worth slowing down on. There are two different "values." Gross value is the headline number on your assessment notice. Net value is what's left after deductions, and it's the only number a county can actually tax.
Because the state raised gross values and the new law shrank deductions at the same time, the two numbers split apart. Across the state, gross value rose 10% or more in 56 counties. But net value — the taxable part — grew a median of just 5%, and in eleven counties it fell. Warren County is the clearest example: its gross value rose 29.4% while its net value slipped 0.3%.
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+29.4%
Gross value
the headline number on the assessment notice
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−0.3%
Net value
what the county can actually tax
When the taxable base grows slower than the amount a county is allowed to collect, the tax rate has to rise to raise the same money — and a higher rate pushes still more bills above the cap, which erases still more revenue. That loop is what county councils are now trying to get ahead of.
Whose job this is, on this ballot
The squeeze described above is the result of decisions made by particular offices, four of which are on the ballot on Nov. 3. Below is what each one actually controls.
County Council Member 368 races on this ballot
Adopts the levy and the local income tax rates, and must adopt the county's 2028 income tax between July 1 and Oct. 1 of 2028 — the decision meant to replace what the caps take.
In this study The council seats filled this November serve 2027 through 2030, which is exactly the window the overhaul phases in over.
County Assessor 92 races on this ballot
Sets the assessed value every bill starts from, and trends it toward the market each year.
In this study The caps are a percentage of assessed value, so assessment quality decides who pays and who is capped. Every county elects an assessor this year.
County Auditor 65 races on this ballot
Applies the deductions, certifies net assessed value to the state, and calculates the credits the caps produce.
In this study The new deductions come off the base the auditor certifies, which is where the levy loss is first visible.
County Treasurer 15 races on this ballot
Collects the bills and manages the cash the caps leave behind.
In this study The counties with the thinnest reserves are the ones with the least room to absorb a cap loss in the year it lands.
- What's included
- the U.S. House, statewide offices, every Indiana House and Senate district on the ballot, Indiana's statewide public questions and judicial retention questions, and county, township, city, town and school board races from the Indiana Election Division's candidate list.
- Everything else
- Local races (county, city, school board, judges) and anything else on your ballot are on your official sample ballot: IndianaVoters.in.gov.
- Candidate lists
- As of Monday, October 19, 2026.
- At the polls
- Indiana law lets you bring a list of candidates and public questions into the polling place, including one stored on your phone, as long as you don't electioneer. IC 3-11-8-18.5
This is not an official ballot. Confirm your registration, polling place and ballot with your election office through vote.gov.