INDIANAPOLIS (AP): Indiana's counties will lose more than $19 million in state excise tax revenue under refunds announced in September for motorists who were overcharged on their excise taxes.
Data released by the Bureau of Motor Vehicles show Indiana's 92 counties will lose $19.2 million in excise tax revenue because the BMV is refunding about 185,000 motorists nearly $29 million for overcharges on vehicles registered between 2004 and this year.
BMV spokesman Josh Gillespie says the money the counties will lose is money they “shouldn't have received in the first place'' because of the overcharges.
Excise tax revenue is distributed to local government units, including schools.
Andrew Berger of the Association of Indiana Counties says the counties' excise tax revenue reductions will begin in June 2015 and continue for two years.