INDIANAPOLIS — A shift in how Indiana funds local government could be on the horizon. State Representative J.D. Prescott (R-Union City) joined WIBC’s Ethan Hatcher and Brian Baker to discuss his new legislative proposal: a complete, top-to-bottom elimination of the Hoosier state’s property tax system.
The proposal aims to dismantle a system that critics argue penalizes wealth and property ownership, replacing it entirely with a 7% sales tax on specific services. “It’s a complete repeal of the property tax system, including the assessments, all business personal property, property taxes across the board for homeowners, for businesses, for rental properties,” Prescott said.
By wiping out the property tax infrastructure, Prescott estimates the state would eliminate the need for county assessor offices, saving Indiana taxpayers between $150 million and $200 million annually in administrative overhead alone…