SB0540: A BILL FOR AN ACT to amend the Indiana Code concerning taxation.

Page last updated: Sunday, April 20, 2025 at 8:01 PM (America/Indianapolis).

General Information

• Stage: Introduced Senate Bill (S)
• Current Chamber: senate
• Origin Chamber: senate
• Description: Local fiscal matters.

Legislators

Actions (2 total)

• Jan 16, 2025, 9:14 AM: First reading: referred to Committee on Tax and Fiscal Policy
• Jan 16, 2025, 9:14 AM: Authored by Senators Buchanan and Rogers

Digest

Raises the acquisition cost threshold for purposes of the personal property tax exemption from $80,000 to $250,000. Limits the ability to seek an excess levy appeal to those units that have experienced a year over year population increase of 5% or more. Caps the allowable increase in the amount of property taxes first due and payable on a homestead in 2026, 2027, and 2028. Provides, beginning in 2027, that the office of the county assessor is an appointive office rather than an elective office. Specifies that the county executive shall appoint an individual to the office of the county assessor. Includes provisions to manage the conversion of the office of the county assessor to an appointive office upon the abolition of the office as an elective office.