Indiana’s budget increased, cumulatively, more than pop+inf in state funds and all funds from 2013-22.
State Funds Budget Data
- Estimated 2023 State Funds Budget ($ Billions): $27.18
- Budget Limit ($ Billions): $28.53
- Budget Limit Growth ($ Billions): 4.96%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $700.64
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $2,803
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $1,888.52
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $7,554.10
State All Funds Budget Data
- Estimated 2023 All Funds Budget ($ Billions): $50.58
- Budget Limit ($ Billions): $53.09
- Budget Limit Growth ($ Billions): 4.96%
- Cost per person of budgeting more than pop+inf over the last decade in 2022 budget: $2,917.47
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2022 budget: $11,670
- Cumulative cost per person of budgeting more than pop+inf over the last decade: $7,992.05
- Cumulative cost per family of 4 of budgeting more than pop+inf over the last decade: $31,968.20
Other Considerations
- Economic Freedom (2020) (Rank): 11 [Fraser Institute]
- State Tax Collections Per Capita (FY2021) ($): $3,915 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 18 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $5,030 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 9.30% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 14 [Tax Foundation]
- Top Income Tax Rate (2023) (%): 3.15% [Tax Foundation]
- Top Income Tax Rate (2023) (Rank): 13 [Tax Foundation]
- Flat or Progressive Income Tax (2023) (Flat/Progressive/Zero): F [Tax Foundation]
- Overall State Business Tax Climate Index (2023)(Rank): 9 [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (%): 4.90% [Tax Foundation]
- Corporate Income Top Tax Rate (2023) (Rank): 37 [Tax Foundation]
- State-Local Sales Tax Rate (2023) (%): 7.00% [Tax Foundation]
- State-Local Sales Tax Rate (2023) (Rank): 24 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 0.84% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 30 [Tax Foundation]
- Tax and Expenditure Limit (0-3): 1 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 15 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): Y [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $11,347 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 13 [US Government Spending]
- Official Poverty Rate (2020-22) (%): 10.9 [Census Bureau]
- Official Poverty Rate (2020-22) (Rank): 28 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (%): 7.3 [Census Bureau]
- Supplemental Poverty Rate (2020-22) (Rank): 14 [Census Bureau]
- Labor Force Participation Rate (Dec. 2022) (%): 63.40% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec. 2022) (Rank): 20 [Bureau of Labor Statistics]