The Build Fund recently completed our assessed value analysis and found that many of our borrower’s properties increased in value. This is beneficial for the businesses themselves, but it also means they can contribute more to our local communities; it increases the amount of property taxes that Marion County can collect. We have been able to have half-million contributed to the community.
Property taxes are a primary source of funding for our local governments. The taxes paid by property owners are proportionate to the value of the property. This means that as Build Fund business borrowers grow and support their local neighborhood through job creation, services, and general neighborhood development, they’ll also support the greater Indianapolis area through their tax dollars.
In 2015, Marion County collected $70,600 in taxes from Build Fund borrowers. Now, in 2019, our borrowers will disperse $340,378 in taxes to pay for essential services and maintenance, such as:
- Public schools
- Public parks and roads
- Public Safety (Police and Fire)
- Public health (water and sewer)
(See how Indiana property taxes benefit our neighborhoods.)
From our first year of operation to date, Marion County collected $568,972 more in property taxes thanks to businesses who borrowed from the Build Fund to acquire and improve real-estate. A majority of Build Fund financing was invested into improving vacant and abandoned commercial buildings. Half-million dollars contributed has now been able to unlock and benefit our schools, parks, and pay for our civil servants.
If you’re a business located or expanding in Marion County, the Build Fund, operated by King Park, will work to connect you to flexible, affordable, and responsible funding options for your business. Start the process now!