(STATEHOUSE) Jan. 24, 2008 - Hoosiers are a step closer to property tax relief after the Indiana House of Representatives on Thursday passed House Bill 1001 by a vote of 93-1. The bill now heads to the Indiana Senate.
The bill contains about $700 million in new property relief, along with $250 million in already scheduled relief for 2008 and about $300 million in relief in 2009. The immediate relief should cut most homestead property tax bills by about one-third.
It also removes school operating and transportation funding and child welfare funding from local property, shifting the responsibility to the state.
Several elements Rep. Buell supported were eliminated or altered in the final bill, such as a state spending cap and a strong referendum process. The bill does not have a state spending cap, and voters would be allowed to vote only on school projects not directly related to classroom learning, such as athletic fields.
"I am proud of how much we have been able to do in such little time," said Rep. Buell. "The most essential components for substantial relief and reform are in place, and I am confident that we will be able to refine and revise what we already have in HB 1001 to offer Hoosier homeowners the best reform package."