Indiana’s major property tax reform package is now law, as Gov. Mike Braun signed the measure Tuesday.
In a statement on social media, Braun called the legislation “historic tax relief” that benefits nearly every Hoosier.
Beginning next year, Senate Enrolled Act 1 creates a new property tax credit of 10 percent of a homeowner’s bill, up to $300. It adds additional credits for older Hoosiers and veterans. It eventually exempts most businesses from the business personal property tax, a tax on equipment. And it slightly changes how farmland is assessed, to help bring down farmers’ property taxes…