Indy Standard

Statehouse lawmakers in Indiana have successfully passed Senate Enrolled Act 1, which has been signed into law and aims to provide significant property tax relief and reforms for Hoosier homeowners. State Representatives David Abbott and Craig Snow backed the legislation.

Under this enactment, residents are expected to save a total of $1.3 billion in property taxes over three years, with two-thirds of homeowners experiencing reduced tax bills in 2026 compared to 2025. According to Abbott, "Senate Enrolled Act 1 is a win for our communities by bringing additional property tax relief and more transparency to the system." He emphasized that the act would assist homeowners, farmers, and small businesses by offering immediate relief and enacting necessary long-term reforms.

The legislation includes a series of measures, such as a 10% property tax credit of up to $300 starting in 2026, additional credits of $150 for fixed-income seniors, and exemptions that relieve more small businesses from business personal property tax obligations. Farmers are also projected to save roughly $125 million over the next three years.

Furthermore, Senate Enrolled Act 1 introduces long-term financial reforms. It reduces local government income tax caps from 3.75% to 2.9%, aiming to cut $1.9 billion. It establishes stronger control mechanisms on local government debt and mandates that referenda be held during general elections to enhance transparency.

Craig Snow commented on the development by stating, "Property taxes have been a growing concern for Indiana taxpayers, and this new law will provide much-needed relief." He noted that the legislation would help families, seniors, veterans, and small businesses retain more of their income.

Residents can stay informed by visiting the legislative website and monitoring the session, which is scheduled to conclude by April 29.