Bill > SB0315

This bill extends and modifies the calculation method for determining the maximum levy growth quotient (a measure that limits property tax increases) for civil taxing units and school corporations in Indiana through calendar year 2026. Currently, the calculation is based on the average growth of Indiana's nonfarm personal income over six years, with a cap at 1.06 for civil taxing units. For the years 2024, 2025, and 2026, the bill introduces a modified calculation that reduces the potential levy growth by multiplying the difference from the standard calculation by 0.8 and capping the result at 1.04. This means local government and school corporations will experience a slightly more constrained growth in their property tax levies compared to previous years. The bill also requires the budget agency to provide the maximum levy growth quotient to relevant entities before July 1 each year, and includes an emergency declaration, which allows the law to take effect immediately upon passage.

Budget and Finance

https://iga.in.gov/legislative/2025/bills/senate/315/details