Lawmakers in the Indiana House are uncertain that they will be able to accomplish anything this session when it comes to property tax relief for Hoosiers.
This year, property tax values on homes have gone way up thanks to higher home prices in 2021 due to a highly competitive market and low interest rates, according to many leading economists. That means many Hoosiers will have to pay the state far more, in some cases far more than they can afford.
“We’ve had lots of conversations with DLGF (the Department of Local Government Finance), and, you know, the biggest challenge we have is that people will be getting their property tax bills in like the next month,” said House Speaker Todd Huston (R).
Huston said that the short turnaround on property tax bills going out is a big obstacle because there is little they can do to change the outcomes of those bills at this point. He said where they can have a significant impact is in 2024.
“That’s the challenge we’re facing right now,” he said. “Again, I’m a guy that believes in tax relief. We’ve sent out multiple taxpayer refunds, and we’ve cut rates. We need to provide some tax relief. “It may not be specifically on (property taxes), but other issues.”
Usually, you see House Democrats disagreeing with Republicans on many things, but property tax relief appears to be something that both parties are in agreement on.
“It could be a little difficult because this is going to be for next year,” said House minority leader Phil GiaQuinta. “Unless there is some sort of, uh, it can be hard unless there is a homestead credit or something. “We’ll work through that.”
There are currently a few bills in the State Senate dealing with property taxes. Senate Bill 90 would freeze property tax rates from going up for senior citizens age 65 and up who own a home in Indiana. Senate Bill 306 would apply specific property tax caps based on increases over the previous year.
There’s also a House bill that would exempt disabled veterans from paying property taxes.
