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COLUMBIA CITY â€” A bill working its way through the Statehouse might aid school districts that are seeing district budgets cut.
House Bill 1062 could lessen the impact of the property tax â€ścircuit breakerâ€ť caps on school district budgets across the state. Different versions of the bill passed both the House and Senate; itâ€™s in Conference Committee to resolve legislative differences.
The caps, which are 2 percent for residential properties and 3 percent for nonresidential properties, were placed in the Indiana Constitution by voter referendum in November 2010.
The caps mean property owners only pay a fixed percent of their propertyâ€™s gross assessed value in taxes.
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