Bill > SB0540

This bill addresses several local fiscal matters in Indiana, with key provisions that include: raising the acquisition cost threshold for personal property tax exemption from $80,000 to $250,000, which will reduce tax burdens for small businesses; limiting excess levy appeals to counties or municipalities that have experienced a population increase of 5% or more; capping property tax increases for homesteads in 2026, 2027, and 2028 to no more than 5% year-over-year; and most significantly, converting the county assessor position from an elected to an appointed office beginning January 1, 2027. Under the new system, the county executive will appoint the county assessor, who must have resided in the county for at least one year and own real property in the county. The bill also provides for a smooth transition, ensuring that current employees, property, funds, and obligations of the county assessor's office will transfer to the new appointive office. These changes aim to modernize local government operations, potentially improve assessment processes, and provide some property tax relief to homeowners and small businesses.

Budget and Finance

https://iga.in.gov/legislative/2025/bills/senate/540/details