IndianaLocal fiscal matters.
What it does
Raises the acquisition cost threshold for purposes of the personal property tax exemption from $80,000 to $250,000. Limits the ability to seek an excess levy appeal to those units that have experienced a year over year population increase of 5% or more. Caps the allowable increase in the amount of property taxes first due and payable on a homestead in 2026, 2027, and 2028.
More detail
Provides, beginning in 2027, that the office of the county assessor is an appointive office rather than an elective office. Specifies that the county executive shall appoint an individual to the office of the county assessor. Includes provisions to manage the conversion of the office of the county assessor to an appointive office upon the abolition of the office as an elective office.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Jan 16First reading: referred to Committee on Tax and Fiscal PolicyLatest
- Jan 16Authored by Senators Buchanan and RogersIntroduced