Senators Propose Abolishing Property Tax

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(STATEHOUSE) - Fourteen senators have proposed amending the constitution to abolish the property tax.

Thirteen Republicans plus Princeton Democrat Lindel Hume want to do away with the property tax in 2011, the earliest a constitutional amendment could be adopted. They haven't specified how to replace the money. Logansport Senator Tom Weatherwax says legislators would have five years to figure that out, and says that has to be the last step.

Weatherwax and eleven co-sponsors have signed on to a proposal to cap spending increases at the inflation rate plus the population growth rate.

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