The Town of Zionsville announced March 27 that it has achieved an 80-20 percentage ratio of residential to other types of property tax revenue, a goal it hoped to reach by 2020.
The Zionsville Town Council announced the goal in 2008, at a time when the town’s property tax base was 95 percent residential. With property tax caps about to kick in, town leaders decided it was time to work to diversity the tax base.
“It has been a really big needle to move, but we have seen a huge shift since when I first served on Town Council,” Zionsville Mayor Tim Haak, a member of the 2008 council, stated in a press release. “The progression is a result of the dedicated efforts of Town staff, Town Council members, the Boone County Economic Development Corp. and the Zionsville Chamber of Commerce.”
Since 2008, businesses that have opened locations in Zionsville include the LIDS headquarters, FedEx distribution center, DK Pierce, MOBI and N.K. Hurst Company, among others. The town had reached a 87-13 split by 2016.