Intro by Justin E. Swanson, Bose Public Affairs Group
Property taxes are the main source of funding for local government services in Indiana. These tax bills are one of the most noticeable taxes a homeowner pays to their local government each year and, for this reason, is also one of the most scrutinized local government taxes by policymakers. A vast majority of states have implemented property tax limits in varying forms. According to the National Conference of State Legislatures, “[n]early all states have homestead exemptions and credit programs in place for seniors and other qualifying individuals to exempt a certain amount of a home’s value from taxation.” In Indiana, property taxes are capped at 1%, 2% or 3% of the property’s gross assessed value depending on the classification of the land in addition to other exemptions and credit programs available.
During a recent radio interview, Representative Bob Morris (R-Fort Wayne) discussed his plan to introduce legislation during the 2019 session to freeze property tax increases in Indiana for qualifying individuals (think those on fixed incomes). Indiana would be one of six states to implement such a program and most programs are optional. Go here to listen to the entire discussion.
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