IndianaLake County local units would round tax payments to five cents
Starting January 1, 2027, local units in Lake County would round tax payments to five-cent amounts, with amounts under five cents rounded to zero.
What it does
Lake County local units would round tax payments to five-cent amounts. Amounts under five cents would be rounded down to zero.
Argument forRounding tax amounts to five-cent steps could make payments easier as the penny is phased out.
Argument againstSome taxpayers could owe a little more when local units round certain tax amounts up to the next five cents.
More detail
Local units would round tax amounts payable to them to the nearest five-cent amount using the rules in this chapter. This applies only in Lake County to counties, townships, cities, towns, school corporations, and special taxing districts. Amounts below five cents would be rounded down to zero. The chapter would take effect January 1, 2027.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jan 5First reading: referred to Committee on Tax and Fiscal PolicyLatest
- Jan 5Authored by Senator DernulcIntroduced
Taxes & Budget