1340 AM, Monday, December 1st, 2008
Senate Cuts Property Taxes
Last updated on Thursday, April 12, 2007
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(STATEHOUSE) - The Senate has voted to cut property taxes while allowing new local income taxes to make up for it.
Noblesville Republican Luke Kenley's bill is the first property-tax relief bill to pass either chamber this year. The House had rejected a previous attempt.
Kenley says it's also the best prospect in years for a long-term fix. The bill allows local income taxes of up to one-percent to replace property-tax dollars. If every county did it, Kenley estimates that would cut property taxes 22%.
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