Limits the year-over-year increase in property tax liability for homesteads to not more than 4%.

Indiana SB0217 amends the Indiana Code to introduce a circuit breaker credit for homesteads, limiting the year-over-year increase in property tax liability to a maximum of 4%. This applies to taxes first due and payable after December 31, 2026. The credit is automatically applied and does not require an individual to file an application. It does not apply to property tax liability imposed on homestead property used for trade or business purposes in connection with the production of income.

Limits the year-over-year increase in property tax liability for homesteads to not more than 4%.

Indiana SB0217 amends the Indiana Code to introduce a circuit breaker credit for homesteads, limiting the year-over-year increase in property tax liability to a maximum of 4%. This applies to taxes first due and payable after December 31, 2026. The credit is automatically applied and does not require an individual to file an application. It does not apply to property tax liability imposed on homestead property used for trade or business purposes in connection with the production of income.