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Indiana Senate tax committee passes Republican property tax proposal

Summary by Fox 59 Indianapolis

Update In a statement from the office of Indiana Gov. Mike Braun, officials said that Braun "remains committed to delivering meaningful property tax reform." "Today, the Senate Committee on Tax and Fiscal Policy has taken steps in the right direction by proposing strong caps on future bill growth, reforms to the referendum process, and targeted relief for veterans, retirees, and first-time homebuyers, but Hoosier homeowners need a solution that …

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WRTV

Major changes made to Indiana Senate Bill 1 following public opposition

INDIANAPOLIS After several cities and towns voiced their opposition, lawmakers have made significant alterations to Indiana's Senate Bill 1. This newly revised legislation introduces several key changes aimed at enhancing transparency and providing tax relief for residents while also still giving local communities tools to have funding for essential services. One focus of Senate Bill 1 is the requirement for the creation of a property tax transp…

10 days ago

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dailyjournal.net

Indiana Senate committee cuts key portions of Braun property tax relief plan

Senate Republicans on Tuesday backed away from the most significant parts of Gov. Mike Braun’s property tax cut proposal. Instead, their version of relief includes tightening requirements for schools to advance certain referendums, limiting how much property tax levies can grow and introducing a credit for first-time homebuyers. The cost to units of government would be just shy of $300 million in the first year, according to the author. Three of…

11 days ago

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WRBI Radio

Committee Approves Scaled Down Property Tax Bill – WRBI Radio

(Statehouse) – State lawmakers have approved a plan for property tax relief, although it’s a scaled-down version. Among the provisions retained in the bill are relief for homeowners over age 65 and disabled veterans. It also contains a first-time homebuyer tax credit that would last up to five years for homebuyers whose income is less than $75,000 for a home that is worth less than $250,000. The bill freezes local property tax operating fund lev…

11 days ago

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The Republic

STATEHOUSE: Senate property tax relief drops main portions of Gov. Braun’s plan

By: Whitney Downard Indiana Capital Chronicle For The Republic INDIANAPOLIS — Senate Republicans on Tuesday backed away from the most significant parts of Gov. Mike Braun’s property tax cut proposal. Instead, their version of relief includes tightening requirements for schools to advance certain referendums, limiting how much property tax levies can grow and introducing a credit for first-time homebuyers. Continue reading at The Republic News.

11 days ago·Columbus, United States

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Fox 59 Indianapolis

Indiana Senate tax committee passes Republican property tax proposal

11 days ago·Indianapolis, United States

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WISH-TV

Senate committee approves Indiana tax relief plan following significant amendment

INDIANAPOLIS (WISH) — Indiana Gov. Mike Braun’s new tax relief plan was approved in a meeting Tuesday morning, following a significant amendment from a Senate committee. SB 1 passed the Senate Tax and Fiscal Policy Committee on a 10-3 vote. News 8’s Garrett Bergquist was in the meeting. He says the amendment’s provisions “significantly scaled down” the original draft of the highly debated bill. The amended plan now predicts the total impact to l…

11 days ago·Indianapolis, United States

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