"This is exactly the kind of visionary plan we've come to expect from Governor Daniels. To begin with, the plan provides $600 million in immediate property tax relief for 2008 through an expanded Homestead Credit. Another highlight of the plan is the 1% cap on residential property taxes. This means that if your house is assessed at $100,000, your bill will not exceed $1,000. To make sure this cap is permanent, the Governor is asking for a Constitutional Amendment.
"In addition to addressing the property tax system, Governor Daniels also addresses the spending issue in his plan. I welcome his call for local spending to be limited to the county's average personal income growth over a six-year period, unless approved by a public referendum. I called for a similar provision this summer in the form of a Constitutional Amendment, so that we can be sure the limits are upheld and permanent.
"While many aspects of this plan will be refined and altered in the coming months, the Governor's plan is a valuable springboard for legislative action that will benefit Hoosier homeowners."