Tax Caps In Constitution?

By Scott Sarvay
By Ryan Elijah

October 1, 2010 Updated Oct 1, 2010 at 2:19 PM EDT

In one month, Hoosiers will go to the polls to vote, but they'll be deciding on more than just their representatives.

They'll also be deciding on whether to make property tax caps part of the Indiana Constitution

The General Assembly's law limits a homeowners bill to 1-percent of assessed value, while farm and business properties are at 2 and 3 percent.

Some opponents say it's too early to predict the long term impact the caps will have on the state. Local governments, schools and libraries are receiving less money from the state as a result of the caps.

County Commissioner Nelson Peters, is supportive of the tax caps, but has concerns about the state impacting local revenue in other ways.

Nelson Peters "it's like if you put your finger in a certain hole in a dike, the water is apt to come out in other ways. our major bridge fund in the county went from $2.1 million to $1.9 million, where is the county going to get that money. they increased the wheel tax/surtax."

Along with wheel tax, 9-11 fees would be another area where the state could impact local governments. Groups like the Indiana Chamber, along with Indiana Farm Bureau and teachers groups have opposed the caps for different reasons.

Even if approved your taxes could still go up if your property is assessed higher. Nelson Peters said that's why it's so important to have an honest assessor.

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