Indy Standard

As property taxes rise, many seniors in Indiana face difficulties in maintaining their homes. To address this issue, House Bill 1075 has been introduced by its author to provide property tax relief for Indiana's seniors and additional support for disabled veterans.

The bill includes three main provisions. First, it proposes a phased introduction of a 100 percent property tax credit for homeowners aged 65 and older over five years, beginning in 2026. By 2030, eligible seniors would not owe property taxes on their primary residences. This aims to prevent those who have paid off their mortgages from being priced out due to increasing property tax bills.

Second, the bill changes how homes are assessed for taxes. Instead of annual adjustments, the assessed value will be based on its value in January 2025 or the purchase price. This measure is intended to offer predictability for homeowners regarding their future tax obligations.

Lastly, the bill seeks to increase the property tax deduction for disabled veterans from $24,960 to $50,000 over five years as a gesture of gratitude for their service.

The author expressed optimism about working with colleagues during the legislative session to reduce the property tax burden on Hoosiers through HB 1075. "This bill is an opportunity to reaffirm Indiana's commitment to our seniors and veterans while maintaining our state's strong fiscal foundation," they stated.

Emphasizing that this initiative is about fulfilling promises rather than merely addressing tax policy, they remarked: "Seniors and veterans have given so much to our state... Providing tax relief is the least we can do for them."