Indiana homeowners who are 65 or older can keep their property tax bill from rising more than 2 percent a year through the over-65 circuit breaker credit, if their income is no higher than $61,680 for a single filer or $71,960 for a married couple filing jointly. Applications for taxes payable in 2027 are due at the county auditor’s office by Jan. 15, 2027. The credit is not automatic, and it only helps people who file.
The income limits changed from the figures many Hoosiers have seen. Indiana’s base limits are $60,000 and $70,000, and the state raises them each year by the Social Security cost-of-living adjustment. For 2027 bills, that adjustment lifts both numbers.
What the credit does to a tax bill
The credit works as a ceiling. According to the state’s homestead deduction and credit form, State Form 51781, the over-65 circuit breaker “prevents property tax liability on qualified homestead property from increasing by more than 2%” over the previous year’s tax. The state’s law behind it is Indiana Code 6-1.1-20.6-8.5…