"This is a huge victory for taxpayers who are tired of waiting for their property tax bills to arrive," Rep. Smith said.
Over the last several years, late property tax bills have been a common occurrence across the state. When tax bills are late, the taxpayer's personal budget goes 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.
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 is a step in right direction but by no means a complete solution. My goal is to ultimately have completed property tax bills sent out on time. Until then, I will continue working on this initiative for Hoosier taxpayers," Smith said.