Indiana House Democrats have a property tax reform proposal they say is a “happy medium” between relief for homeowners and support for local governments and schools.
Rep. Greg Porter (D-Indianapolis) plans to offer a package of amendments to SB 1. That includes provisions to:
- Cap, at 1 percent, the amount property tax bills can grow for people aged 65 and older
- Freeze property taxes for disabled veterans
- Create a homestead tax credit for homeowners
- increase the tax deduction for renters from $3,000 to $5,000
- Create a first-time homebuyer down payment grant program, with awards up to $25,000
“I don’t want to continue to disappoint homeowners, particularly our seniors and young people in the state of Indiana,” Porter said.
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House Democratic Leader Phil GiaQuinta (D-Fort Wayne) said the Democrats’ proposal ensures property tax relief is centered on the right place.
“Just basically focusing on homeowners versus corporations is the biggest takeaway," GiaQuinta said.
Debate over property tax reform will continue the rest of session.
Brandon is our Statehouse bureau chief. Contact him at bsmith@ipbs.org or follow him on Twitter at @brandonjsmith5.