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Dillon says historic legislation gives
Hoosiers significant property tax cut
Gov. Mitch Daniels signs property tax reform legislation into law
(STATEHOUSE) – It’s a landmark for property taxpayers in Indiana and for generations of Hoosiers to come, according to State Sen. Gary Dillon (R-Columbia City).
Gov. Mitch Daniels signed into law what many are calling the most significant property tax reform package in the history of the state. Dillon, Senate advisor of the legislation, joined fellow lawmakers from the Indiana Senate and House of Representatives in the Statehouse Rotunda for the signing ceremony earlier today.
“Providing significant and permanent property tax relief for Hoosiers is what this new law targets,” Dillon, Co-Sponsor of House Bill 1001, said. “I believe this is one of the most important steps taken on behalf of taxpayers in and I am pleased to be a part of protecting affordable homeownership.”
The new law removes $1 billion in school and local government costs from property taxpayers — including farmers and businesses — while maintaining local control of schools. The law also places a 1 percent property tax cap on owner-occupied homes, 2 percent on other residential and agricultural properties and 3 percent on businesses to be phased in by 2010.
Dillon said capital expenditures have been the majority factor in driving up the property tax. The new measure requires voter approval by referenda of all major government construction projects. It also tightens the guidelines on debt and provides county and city level approval of the budgets of non-elected boards.
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Sen. Dillon represents Senate District 17, which includes, Allen, Grant, Huntington, Kosciusko, Wabash and Whitley counties. | 