Tuesday, February 25, 2025
Even with Indiana's property tax system ranking No. 5 in the nation for best property tax climate and our state boasting one of the lowest costs of living in the country, Senate Republicans have made enacting meaningful property tax relief the top priority – Senate Bill 1 – this year.
The Senate Republican plan contains historic growth-control measures and is projected to provide $1.4 billion in property tax relief over the next three years.
It includes policies that will help all Hoosiers, like freezing local operating fund levies in 2026, curbing local debt issuances and requiring referenda that seek to raise local taxes to be conducted during general elections when voter participation is highest.
It also includes targeted cuts for Hoosiers over 65, disabled veterans, farmers and first-time homebuyers.
Senate Republicans understand many Hoosiers have been frustrated by the considerable year-over-year increases in their bills, which have largely been caused by inflationary increases in property assessed values. Property taxes are set and used locally, so it is important to balance the needs of taxpayers with those of local government budgets.
SB 1 is likely to continue to undergo changes as the bill progresses in the legislative process. The caucus will remain committed to enacting meaningful property tax relief by the time the session adjourns at the end of April.
