Property Tax Caps Clear Hurdle

Originally passed into law in 2008, the caps would limit property tax liability to 1% of a home’s assessed value, 2% for rental and farm properties and 3% on businesses. To be made permanent as a Constitutional amendment, identical bills must pass two separately elected General Assemblies before being put on the ballot for voter approval.


Property Tax Caps Clear Hurdle
As expected, the Property Tax Caps cleared the Indiana House of Representatives – an insurmountable hurdle last year - with room to spare. HJR1 passed with a bi-partisan vote of 75-23. The resolution now moves to the Senate side of the building where the bill has overwhelmingly passed every time it has been heard. The Senate is expected to vote soon, possibly today.
After passage in the Senate, voters will have the final say. In referendum form, the question of putting property tax caps in the Constitution will appear on the November General Election ballot. If the voters so choose, the caps would be put in the Constitution to permanently protect Hoosier taxpayers.