State lawmakers who voted for Senate Enrolled Act 1, including Fishers’ own Rep. Todd Huston (R-37), Rep. Chris Jeter (R-88) and Sen. Kyle Walker (R-31), touted it as a win for homeowners.
The law does provide a property tax credit worth 10 percent of a home’s assessed value, up to a maximum of $300. However, these savings come at a price. As Rep. Victoria Garcia Wilburn (D-32) explained in her reasoning for voting against this bill, the final version is estimated to cost Hamilton County $132 million over the next three years — this puts local police, firefighters, public libraries and other services at risk.
It also affects our public schools. According to Hamilton Southeastern Schools Chief Financial Officer Tim Brown’s presentation at the June 25 HSE School Board meeting, this credit alone is projected to cost our district $4 million dollars per year in lost revenue…