Bill > HB1028

This bill establishes a property tax freeze for homeowners in Indiana, creating a new mechanism that locks in an individual's property tax liability based on the year they acquired their home. Specifically, for homeowners who owned their property before January 1, 2025, their property tax liability will be permanently fixed at the 2025 tax level. For homeowners who purchase a home after December 31, 2024, their property tax liability will be set at either the tax amount in the year they purchased the home or the lowest tax amount in subsequent years, whichever is less. The bill includes a provision that allows for tax increases only if physical improvements to the home result in a higher assessment, in which case the tax increase will be limited to the cost directly attributable to those improvements. The county auditor is responsible for implementing this tax freeze, and the new rules will apply to property taxes due and payable in calendar years after 2025. The legislation is set to be in effect until January 1, 2028, providing homeowners with a potential mechanism to stabilize their property tax expenses and protect against annual increases.

Budget and Finance

https://iga.in.gov/legislative/2025/bills/house/1028/details