Indy Standard

State Rep. Jack Jordan, a Republican from Bremen, has co-sponsored Senate Enrolled Act 1, now signed into law, aimed at providing significant property tax relief to Hoosier homeowners alongside long-term reforms.

The law is expected to save homeowners $1.3 billion in property taxes over the coming three years. By 2026, two-thirds of Hoosier homeowners will pay less in property taxes than they do now.

"Senate Enrolled Act 1 is about putting Hoosier families first and providing them with the relief they need today while creating a more stable and secure future for taxpayers across the state," said Jordan. "We're looking to take a responsible, long-term approach to tax relief while strengthening the financial foundation for our communities."

Key measures in SEA 1 include a 10% property tax credit up to $300 for all homestead property tax bills starting in 2026, as well as additional credits of $150 for fixed-income seniors. The legislation also exempts more small businesses from the business personal property tax and is projected to save farmers $125 million over three years.

Long-term reforms under the act aim to decrease local income tax caps from 3.75% to 2.9%, amounting to a $1.9 billion reduction. It also imposes stricter controls to address a $54.3 billion local government debt and mandates that referenda occur during general elections to enhance transparency and voter engagement. Additionally, the act establishes a Property Tax Transparency Portal to assist taxpayers in comparing current tax bills with potential changes.

For more updates on the legislative session, which must conclude by April 29, the public can visit iga.in.gov.