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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 âcircuit breakerâ caps on school district budgets across the state. Different versions of the bill passed both the House and Senate; itâs 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 propertyâs gross assessed value in taxes.
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