Indiana Governor Mike Braun reiterated on Wednesday that the property tax relief bill he signed into law this legislative session was a victory, but “we’re not ending with it.”
“A lot of people want to see property taxes disappear completely,” said Braun in an interview with WIBC’s Hammer and Nigel.
He said throughout the legislative process as Senate Bill underwent several changes at the Statehouse, he was faced with a dilemma. That’s either go back and start from scratch or get the relief and the savings he could. It offers $1.3 billion of total savings.
“Farmers got help in it. Small businesses got lots of help in it as well,” said Braun.
Current law allows businesses to be exempt from equipment taxes if their total assets are valued at less than $80,000. SB 1 has lifted that number to $1 million in 2025 and $2 million in 2026. It also allows homeowners to take a property tax credit worth 10% of the property tax bill on their primary home, up to $300, off of their bills.
“Rather than have nothing, we plussed it up to a place where we could get it across the finish line,” said Braun.
Braun also advised Hoosiers to go to their local school boards and municipalities to keep telling them that they need more financial relief.
“Because you can’t count on the legislature and the Governor to keep fixing it each year. So it is going to take that type of input as well,” said Braun.
No school district in the state would gain any net property tax revenue over the next three years. cities, towns and counties will likely get hundreds of millions of dollars less in revenue over the next three years as well.
The legislative session is slated to end April 29.
2 comments
10% property tax relief up to $300??? Who in their right mind thinks this is a win? Our property taxes went up 30% –50%… And most of the properties that went up in taxes, have been newly assessed way too high. Appeals are taking way too long, and most get denied.
I will believe it when I see it.
In fact, I think the “property ax cut” is a blatant LIE! All over MNC radio there is an advert touting making school referendums only during major elections. This is a good thing but it is NOT A TAX CUT. $300 is meaningless when one;s taxes go up $1500 to $3000 a year. NO ONE OVER FULL SOCIAL SECURITY AGE SHOULD PAY A DIME IN PROPERTY TAX. Such a person has already paid enough Royal Tax to the ROYAL Estate. Where do you think the word “REAL” comes from in the term “Real Estate?” There is full republican representation at the state house from Elkhart, County. Worthless each and every one of them! Casey Hendrickson is correct. This is a increasingly purple state. Time To Move Away to a more free state with better weather.