Great News, the End to High Property Taxes Is Almost Here
Posted By admin on February 13, 2009
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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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I’ve been engaged in taxations for longer then I care to acknowledge, both on the personal side (all my employed life!!) and from a legal viewpoint since passing the bar and pursuing tax law. I’ve offered a lot of advice and corrected a lot of wrongs, and I must say that what you’ve put up makes complete sense. Please persist in the good work - the more people know the better they’ll be equipped to comprehend with the tax man, and that’s what it’s all about.
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