Taylor-Brown Real Estate Talks

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On February 10, 2009, the Indiana Senate passed an amendment for the permanent cap to property tax bills. The bill passed the Indiana Senate with an overwhelming majority of 34 to 16 vote.  The bill goes to the House for consideration, but House Speaker, Patrick Bauer, suggested that the House representatives wait until next year’s session to vote on the amendment.

With the property taxes being an important issue to the residents and the forefront of the Indiana residents’ mind it may not be wise for the House to postpone their voting on the amendment. 

This amendment will cap the property taxes for homeowners, investors, and business owners, alike.  The homeowners would be able to benefit from only paying one percent of the assessed value of the home.  Whereas, the investors would pay only two percent of the assessed value of the property.  Still yet, the business owner will pay only three percent of the property’s assessed value.

If the amendment is passed by the House, Indiana’s resident can look forward to voting on the amend law in 2010.

Hopefully, the amendment will be approved in the House, as well.  If lower property taxes is important to you contact your congressmen and tell them so.  Your voice does have power.

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