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IN HJR0001
Joint Resolution
Status
Passed
3/25/2010
Primary Sponsor
William Crawford
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AI Summary
- Proposes constitutional amendment to Article 10, Section 1 of the Indiana Constitution establishing permanent property tax caps (circuit breakers) effective for taxes due in 2012 and thereafter
- Limits property tax liability to 1% of gross assessed value for owner-occupied homesteads, 2% for other residential property and agricultural land, and 3% for other real property and personal property
- Allows the General Assembly to enact property tax deductions and credits in addition to exemptions, and to impose reasonable filing requirements for exemptions, deductions, and credits
- Excludes property taxes approved by voters in a referendum from counting toward the tax liability caps
- Permits "eligible counties" (those where tax caps would reduce 2010 aggregate property tax revenue by at least 20%) to exclude pre-July 1, 2008 bond debt service from cap calculations through December 31, 2019
Legislative Description
Circuit breakers and other property tax matters.
Last Action
Public Law 116
3/25/2010
Full Bill Text
No bill text available