News and Tribune

Election 2010

November 2, 2010

Indiana voters OK property tax cap amendment

— Indiana voters have approved a constitutional amendment that will make property tax limits more permanent.

The caps limit property tax bills to 1 percent of homes' assessed values, with 2 percent caps on farmland and rental property and 3 percent limits on business property.

The caps are already in state law and saved taxpayers $478 million this year, but that's meant less cash available for local governments and schools.

Supporters say constitutional caps will give taxpayers more protection and stability. Opponents warn that constitutional tax limits will be more difficult to amend should changes be desired in the future.

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