Rep. Rich McClain (R-Logansport) voted today to put an end to taxpayers frustration over receiving late property tax bills.
"No one looks forward to getting their property tax bill in the spring, but what is even more frustrating for Hoosiers is not receiving their property tax bill when expected."
Over the last several years, late property tax bills have been a common occurrence across the state. When tax bills are late, the personal budgets of taxpayers go awry, and local governments are often forced to borrow money in order to pay their bills.
Any interest accrued on the borrowed funds must be repaid with tax dollars that could have otherwise been used to provide services.
House Bill (HB) 1059 would provide a solution to this problem by ensuring every Hoosier receives a property tax bill on time.
HB 1059 would also require counties that are unable to mail their tax bills on time to instead mail a provisional tax bill that is to be paid in two equal installments on the normal spring and fall due dates. The provisional tax bill must be equal to the taxpayer's actual property tax bill from the prior year.
When the county finalizes the actual tax bills, the county must then mail a reconciling statement that settles the difference between what the taxpayer paid on the provisional bill and what the taxpayer actually owes.
"This bill will, in turn, eliminate any uncertainty for taxpayers and save money for Hoosiers by greatly reducing the need for local governments to borrow money and accrue costly interest charges."
HB 1059 passed by a 97-0 vote.