Gov. Mike Braun’s property tax relief plan has been revised for a second time, with the latest version allowing homeowners to claim a credit of 7.5% of their home’s assessed value, up to $200. Additional credits are available for fixed-income seniors and disabled veterans. The plan also includes a deduction of 2/3 of a home’s assessed value by 2031. House Ways and Means Committee Chair Rep. Jeff Thompson stated that 55% of homeowners will pay less under the proposal, with a limit on revenue growth for local governments. However, Democrats on the committee questioned a provision that allows county councils to increase local income tax rates to offset revenue losses. Concerns were raised about how much relief homeowners would actually receive and the lack of guidance for local governments. The bill now moves to the full House for consideration, with the likelihood of going to a conference committee to address differences between the House and Senate versions. Fire chiefs and lawmakers expressed concerns about the lack of clarity and preparation for local governments if the bill is passed in its current form.
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