Senate Joint Resolution 10 Summary

• Proposes a constitutional amendment to Article 10 of the Indiana Constitution to exempt homesteads from property taxation.

• Redefines tangible property used as a principal place of residence (including curtilage) as exempt from property tax for owners, contract buyers, and individuals with beneficial interest in the property.

• Removes the previous 1% property tax liability cap on homestead property and instead exempts homesteads entirely from property taxation.

• Requires approval by two consecutive general assemblies and ratification by a majority of Indiana voters to become effective.

• Takes effect for the assessment date following the calendar year in which voters ratify the amendment.