Senate Joint Resolution 1 TV Ads

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Send an E-mail to taxless3@comcast.net to receive a Microsoft PowerPoint depiction of the two TV ads that have been developed to support the constitutional property tax caps in Senate Joint Resolution 1. Different off-camera "normal" voices will deliver the six sentences included in each 30-second ad.

Senate Joint Resolution 1, which contains a meaningful homeowner property tax cap amendment to the Indiana Constitution, passed the Indiana Senate 40-7 and the Indiana House 79-20 on March 14, 2008.

For property taxes first due and payable in 2012 and thereafter, the circuit breaker credit (cap) is equal to the amount by which a person's property tax liability attributable to the person's (1) homestead exceeds 1%, (2) residential property exceeds 2%, (3) agricultural land exceeds 2%, (4) long-term care property exceeds 2%, (5) nonresidential real property exceeds 3%, or (6) personal property exceeds 3%, of the gross assessed value of the property. Residental rentals, apartments, assisted living facilities and residential nursing homes are considered residential property. The threshold defining an assisted living facility is changed from 6 to 8 individuals. Residential property also includes land rented or leased for the placement of a manufactured or mobile home (manufactured houses and mobile homes are already defined as homesteads). The circuit breaker threshold will be 3% for second homes and short-term rentals. Property taxes imposed after being approved by the voters in a referendum shall not be considered for purposes of calculating the limits to property tax liability under these caps.

For property taxes first due and payable in 2012, 90 of Indiana's 92 counties will have a homeowner property tax cap that is 1% of the gross assessed value. Until 2020, existing debt service prior to July 1, 2008, is exempted from the 1% homeowner gross assessed value cap in Lake and St. Joseph counties ONLY. What it all boils down to is that the constitutional homeowner property tax cap amendment for 90 counties is 1% of the gross assessed value while the caps for Lake and St. Joseph counties are 1.88% and 1.52% respectively. The caps for Lake and St. Joseph counties will become 1% in 2020.

Even though the beginning homeowner property tax caps are more in Lake and St. Joseph counties, the caps will result in a 2010 property tax reduction of 36% for the typical Lake County working family and a 34% reduction for the typical St. Joseph County working family.

SJR 1 must again pass in the General Assembly in 2009 or 2010 to put the 1% constitutional homeowner property tax cap amendment on the 2010 ballot. We the people can then vote to make the 1% homeowner property tax cap a permanent part of the Indiana Constitution.

This page was last updated on 03/19/10 .