Freezes property tax liability for Indiana homesteads based on the date of ownership acquisition.

Indiana HB1028 establishes a property tax freeze for homesteads, setting an individual's tax liability based on the date they acquired a qualified interest in the property. This freeze applies to property taxes first due and payable beginning in 2026. The law also specifies that if a physical change to the homestead results in an increased assessment, the tax liability for subsequent years will include the additional amount attributable to the change. The freeze is effective July 1, 2025, and expires January 1, 2028.

Freezes property tax liability for Indiana homesteads based on the date of ownership acquisition.

Indiana HB1028 establishes a property tax freeze for homesteads, setting an individual's tax liability based on the date they acquired a qualified interest in the property. This freeze applies to property taxes first due and payable beginning in 2026. The law also specifies that if a physical change to the homestead results in an increased assessment, the tax liability for subsequent years will include the additional amount attributable to the change. The freeze is effective July 1, 2025, and expires January 1, 2028.