Indiana House Democrats have introduced a new proposal called the “Hoosier Home Field Advantage,” aimed at providing financial assistance to homeowners in the state. The proposal includes measures such as increasing the Homestead Standard Deduction, enhancing the Supplemental Homestead Deduction, and creating a Hoosier Homestead Property Tax Credit.
The Homestead Standard Deduction would see an increase from $45,000 to $60,000, providing homeowners with additional tax relief. The Supplemental Homestead Deduction would also be expanded to include those who are disabled or over the age of 65, further helping those in need of financial assistance.
Additionally, the Hoosier Homestead Property Tax Credit would provide a refundable tax credit to homeowners who have lived in their primary residence for at least five years. This credit aims to reward long-term residents and provide them with additional financial support.
House Democrats believe that these measures will help homeowners in Indiana by providing them with much-needed tax relief. They argue that the proposal will make property taxes more fair and equitable for all homeowners in the state.
The “Hoosier Home Field Advantage” proposal is part of House Democrats’ efforts to support homeowners and ensure that they are able to stay in their homes without facing financial burden. The proposal will now be considered by the Indiana House of Representatives, where lawmakers will debate and vote on its potential implementation.
Overall, the introduction of this proposal reflects House Democrats’ commitment to supporting homeowners in Indiana and ensuring that they have the resources they need to maintain their homes and communities.
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