Property Taxes Open 2008 General Assembly
(STATEHOUSE) - The Indiana General Assembly convened its 2008 session on Tuesday.
The Senate got down to business with a hearing on the constitutional amendment to repeal homeowner property taxes, also known as Senate joint resolution eight.
Senator Brent Waltz of Greenwood presented to the Rules and Legislative Procedure Committee.
Senator Mike Young of Indianapolis introduced the bill's first amendment. He says eliminating the homestead property tax would create a deficit of nearly 3 billion dollars.
His amendment offers a mix and match menu of seven options to make up the difference. One proposal he presented is to tax services in the state. The additional tax revenue would allow the elimination of homeowner's property taxes and reduce the state's sales tax.
The committee heard from lawmakers on both sides of the constitutional amendment issue along with more public testimony. It's the first of six key proposals on property taxes that lawmakers are working on during this short session which ends on March 14th.
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