FOR IMMEDIATE RELEASE
Waltz & Young Present Plan to Eliminate Property Taxes on Homes
Committee members ‘intrigued, interested’ in new proposal
(STATEHOUSE) – Sen. Brent Waltz (R-Greenwood) and Mike Young (R-Indianapolis) presented a plan today that would completely and permanently eliminate property taxes on owner-occupied homes statewide. The plan was presented as an amendment to Senate Joint Resolution 8 under consideration by the Senate Rules and Legislative Procedure Committee.
“This amended legislation would guarantee, for the first time in the history of Indiana, that no Hoosier will suffer the indignity of losing their house because of this antiquated tax system,” Waltz said. “No citizen will ever again see a foreclosure sign in their front yard because of property taxes.”
Waltz and Young asked fellow lawmakers to choose between sales or income taxes as “fairer, more modern ways” to fund schools and local government. The presentation included several possible funding options to replace the $2.95 billion needed to eliminate property taxes for homeowners.
“When the General Assembly passes SJR8, homeowners in Indiana will finally own their homes. It will be a great day for all Hoosiers,” Young said. “Since this requires a constitutional amendment, SJR8 would forbid any form of government from raising property taxes.”
Republican state senators say they are “intrigued and interested” by the new plan unveiled at the Statehouse today that would completely and permanently eliminate property taxes on residential homes statewide.
The committee asked for additional time to study and discuss the resolution and amendment and is expected to revisit this legislation in the coming days. SJR 8 is being offered as an amendment to the Indiana Constitution, requiring passage by two separately elected sessions of the Indiana General Assembly and approval by voters.
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