1340 AM, Friday, August 29th, 2008
Increased Indiana Tax Deductions Start Monday
Last updated on Wednesday, June 06, 2007
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(UNDATED) - Three expanded property-tax deductions will become available on Monday.
The Indiana General Assembly increased eligibility for deductions for disabled veterans, senior citizens, and veterans of World War Two. Senior citizens have been eligible for a $12,480 deduction off the taxable value of their home if their home is valued at $144,000 or less. The new law raises that cap to $182,430.
Disabled veterans are eligible for the same deduction if their home is valued at $143,160 or less. The old cap was $113,000.
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