Indiana House Republicans propose $1.1 billion property tax relief

Indiana House Republicans have proposed a new property tax relief plan aimed at saving homeowners $1.1 billion over three years, with a significant emphasis on reducing tax bills for the majority of residents. House Speaker Todd Huston and Ways and Means Chair Jeff Thompson highlighted that more than half of Hoosiers could see lower property taxes in 2026 compared to 2025, although specifics on who will benefit remain vague. The proposal includes a 7.5% credit on homestead property taxes and additional credits for seniors and disabled veterans. It also seeks to reform the property tax system to alleviate the burdens on local governments while ensuring they still receive funding. However, concerns linger about the potential impact on schools and local services, especially if districts are required to share property tax revenue with charter schools. The plan is set to be discussed in a committee meeting, aiming for a vote soon.