State Rep. Tom Dermody (R-LaPorte) joined fellow Indiana House Republicans today in proposing a concrete and definable plan to solve Indiana's current property tax crisis.
"Among the most important aspects of the property tax plan that House Republicans have proposed is my desire to ensure that all of our communities see an immediate property tax cut of up to 40 percent in May 2008," said Rep. Dermody. "If the legislature is going to ask local government to lower its spending, we must hold state government accountable by imposing spending caps as well.
"Stopping skyrocketing property tax bills in their tracks by imposing a 1 percent cap of the assessed homestead valuation is an essential aspect of the plan that I pledge to support throughout this session. Additionally, the time has come to remove the funding burden schools and welfare places on our property taxes. I am completely against short-term fixes or patches, and we must make these property tax caps and levy removals permanent. In order to support these property tax cuts, I am committed to looking to sales tax as the sole replacement funding source.
"I also support utilizing the local option income tax to pay for school construction projects and reduce the property tax burden. When all of these proposals have been put into place, I am eager to join in the discussion of permanently eliminating the homestead property tax. This is a long-term goal that I know I share with many, and I am confident with bi-partisan support and commitment this is an aspiration we can work toward with time."