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Indiana Property Taxes – Recent History

The Indiana property tax system has undergone numerous changes over the past few years, but many residents are not happy with the results. While some of the changes were intended to make the system more fair and transparent, they have been met with criticism and backlash.

  1. Property Tax Caps
    One of the most significant changes to the Indiana property tax system has been the introduction of property tax caps, which limit the amount of property tax that can be assessed on a property based on its assessed value. However, critics argue that these caps unfairly shift the burden of property taxes onto businesses and rental properties. The caps have also been accused of causing a reduction in services provided by local governments due to a lack of funds.
  2. Circuit Breaker Credits
    The circuit breaker credits, which are designed to provide additional relief to homeowners whose property taxes exceed a certain percentage of their income, have also been met with criticism. Critics argue that the credits are not enough to offset the high property taxes in Indiana, and many homeowners are still struggling to pay their bills.
  3. Assessment Changes
    While the overhaul of the property assessment process was intended to create more consistent and accurate assessments, many homeowners believe that the changes have not gone far enough. Some homeowners still receive inaccurate assessments, leading to unfair property tax bills.
  4. TIF Reform
    Tax Increment Financing (TIF) has been criticized for being opaque and prone to abuse, and the TIF reforms passed in 2015 have not gone far enough to address these concerns. Critics argue that local governments are still able to redirect property tax revenue to pay for infrastructure improvements and other development costs, often at the expense of residents.
  5. School Funding Changes
    The changes to how Indiana funds schools have been met with mixed reviews. While some praise the increase in state funding and additional funding based on the number of low-income students served, others argue that the changes have not gone far enough to address the significant disparities in funding between wealthy and poor school districts.

In conclusion, while the Indiana property tax system has undergone significant changes over the past few years, many residents are not satisfied with the results. The changes have been met with criticism and backlash, with many arguing that they have not gone far enough to address the high property taxes and other issues with the system.

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