Abolishes property tax assessment and imposition in Indiana, effective January 1, 2028.

Indiana HB1288 abolishes the assessment of tangible property and the imposition of property taxes in the state, effective January 1, 2028. It also prohibits the establishment of new development districts or allocation areas and the issuance of bonds, leases, or other obligations for such areas. The bill outlines procedures for the transfer of duties from county and township assessors to county auditors, effective July 1, 2026. It mandates that school corporations adopt budgets corresponding to the state fiscal year and share referendum tax levy revenues with eligible charter schools.

Abolishes property tax assessment and imposition in Indiana, effective January 1, 2028.

Indiana HB1288 abolishes the assessment of tangible property and the imposition of property taxes in the state, effective January 1, 2028. It also prohibits the establishment of new development districts or allocation areas and the issuance of bonds, leases, or other obligations for such areas. The bill outlines procedures for the transfer of duties from county and township assessors to county auditors, effective July 1, 2026. It mandates that school corporations adopt budgets corresponding to the state fiscal year and share referendum tax levy revenues with eligible charter schools.