State Senate Approves Constitutional Amendment to Permanently Cap Property Taxes

By Peter Ambrose

Gov. Daniels promises to call special session of the legislature if tax reform compromise isn't reached by session's end Friday.

June 18, 2010 Updated Feb 10, 2009 at 7:34 AM EDT

INDIANAPOLIS (AP) - The Republican-controlled Senate has approved a proposal to put limits on property tax bills into the Indiana constitution.

The proposal passed on a 34-16 vote and now moves to the
Democrat-controlled House. If the measure clears both chambers this
year or next, voters would decide in 2010 whether to amend the caps
into the constitution.

Democratic House Speaker Patrick Bauer of South Bend has
suggested lawmakers wait until next year to consider the resolution
so they know more about the financial hit local governments may take from the caps.

When the caps are fully phased in, property tax bills on homeowners would be limited to 1 percent of their homes' values,
with 2 percent limits for rental property and 3 percent caps on business property.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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