Bloomington Senator Concerned Over Daniels Property Tax Plan
(INDIANAPOLIS) - Senate Democrats want to throw out Governor Daniels’ property-tax plan and start from scratch.
Democrats' plan drops the idea of circuit breakers or a constitutional amendment to lock those caps in place. Instead, it uses the governor's proposed sales tax hike to pay for an expanded homestead credit.
How big a credit would depend on how much you make -- there would be five brackets, with the wealthiest Hoosiers knocking 40% off their tax bill.
Bloomington Senator Vi Simpson contends if you don't have a six-figure income, the sales tax and expected local income-tax hikes would chew up the savings in Daniels' plan.
Democrats don't have firm numbers for their plan, but say most people should end up paying less.
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