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Lubbers, Miller expect far-reaching and permanent proposals on property tax reform to come from tax commission meeting
Bipartisan commission to give recommendations Tuesday
(STATEHOUSE)— Sens. Teresa Lubbers and Pat Miller (Rs-Indianapolis) – legislative leaders who first called for this year’s thorough examination of property taxes – say they expect permanent and far-reaching proposals to come from Tuesday’s meeting of the State Tax and Financing Policy Commission.
The commission’s final interim meeting on property taxes will be at 1 p.m. Tuesday, Nov. 13, in Room 404 at the Statehouse. Legislative leaders said the hearing will be broadcast via the Internet at http://www.in.gov/legislative/session/video.html. Specific recommendations for the General Assembly will be voted on at this meeting.
“Hoosiers can expect us to take initial action on property tax reform on Nov. 20, Organization Day,” Lubbers said. “January 8 is the beginning of session and as many as 10 bills will be introduced. They will be compatible with Gov. Daniels’ property tax reform plan.”
“It is essential the General Assembly pass permanent and immediate property tax relief that will be reflected in the May 2008 property tax bills,” Miller said.
Lubbers and Miller issued the call in July for this commission to study property taxes after Marion County residents were hit with much higher than expected bills.
In eight meetings since then, issues the State Tax and Fiscal Policy Commission has examined include:
- owner-occupied and rental properties;
- exemptions for seniors, the disabled and owners of second homes;
- property tax disclosure forms and Indiana’s assessment system;
- alternate revenue sources;
- debt issuance and the impact of property taxes on bonds;
- circuit breakers and maximum levies;
- annexation;
- rebates versus tax credits; and
- elimination of property taxes.
Lubbers and Miller hope to see recommendations in the following areas:
- Significant and permanent property tax relief in the form of a constitutional cap;
- A reduction in local spending and the closing of tax loopholes;
- Elimination of township trustees; and
- Alternative revenues to reduce property taxes.
Lubbers said Gov. Daniels has laid on the table the key points for property tax reform and that legislators will hammer out the details of a plan which reflects the commission’s work and the governor’s recommendations.
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