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New Indiana Property Tax Law Passes House

***BREAKING NEWS***BREAKING NEWS**

Help may be on the way soon for Hoosiers and property taxes. The Indiana House voted 82-17 Friday afternoon to pas a property-tax reform that would cut the average tax bill boy about 30% this year.

HB 1001 is now law. It provides immediate tax relief, caps on property taxes, the elimination of some township assessors, referendums on major building projects and spending controls for local government.

House Minority Leader Brian Bosma says "I truly believe what we have before us is the strongest property-tax reform measure this state has seen in nearly two generations."

Folks this is great news for all Indiana homeowners. It ends a roller coaster of rate hikes over the last two years. Now we as real estate agents and mortgage brokers have a responsibility to our clients to get the word out. While I will post more details when available we now do not hear the objection about buying a new property due to unknown property taxes.

Posted by Tony Grego, Your Place for Great Rates! on 03/14/2008 02:13 PM

Comments (4)

indiana mortgage, indiana property taxes, tony grego, hb 1001, property taxes, hoosiers, proeprtytax reform

This post has been included in Indiana Information
Post is included in group: 3H's Helping Hoosier Households

4 Comments on New Indiana Property Tax Law Passes House

Does that include Non Resident owners. We bought a home and my son rents it from will it reduce the tax burden on his home also? Thanks for the info.

03/14/2008 02:39 PM

by Terry Westbrook ~ Realtor(R) Grand Rapids Mi Ada/Cascade Real Estate (Five Star Real Estate, LLC Grand Rapids , MI)

Thanks for your comment Terry.

Not sure but my initial answer is yes. I plan to read HB1001 over the weekend and provide more details. I want to dig in more with excemptions.

Tony Grego - Indiana Mortgage Company

03/14/2008 04:00 PM

by Tony Grego with AmeriSave

Thanks Tony Appreciate any info you might have . Terry

03/14/2008 04:15 PM

by Terry Westbrook ~ Realtor(R) Grand Rapids Mi Ada/Cascade Real Estate (Five Star Real Estate, LLC Grand Rapids , MI)

I am curious how the new tax laws will affect my 2nd home. Will the cap be applied to this home also and will my bill go down. i have no dections on this property now, it is vacation home. Thanks

10/31/2008 09:50 PM

by Rick H

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