In his first state of the city address, Indianapolis Mayor Greg Ballard said he would work for a repeal of the 65% income tax increase implemented in mid-2007 under former Mayor Bart Peterson.

Revenue from the tax hike, which pushed local income tax rates in Marion County to 1.65% from 1%, was largely earmarked to pay debt service on a planned $450 million pension obligation bond issue. But Peterson was voted out of office before the city could sell the bonds,  which have since become unnecessary under a recent state measure to take over responsibility for all local pre-1977 public safety pension obligations.

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