U.S. Sen. Mike Braun, addresses healthcare conference in Indianapolis on May 13, 2024. Courtesy-Whitney Downard-Indiana Capital Chronicle
INDIANAPOLIS – Republican gubernatorial nominee Mike Braun — Indiana’s junior U.S. Senator — on Friday released a proposal to reform the state’s property tax system, which is among Hoosiers’ top concerns following back-to-back, double-digit increases in assessed values.
However, the two-page plan — which came from the Indiana Republican Party and not directly from his campaign — didn’t include any fiscal analysis, nor did either group respond when asked about the impact on government coffers.
The four-pillar proposal includes immediate property tax cuts for homeowners and a cap to limit future growth. Other parts of the proposal include transparency on tax calculations and reforming the tax referendum process.
“Nothing is more important than ensuring Hoosiers can afford to live in their homes without being overburdened by rising property taxes driven by rapid inflation in home values. As Governor, I will introduce a bold agenda to deliver historic property tax relief for all Indiana residents,” Braun said in the party’s release.
According to an analysis by the Association of Indiana Counties and Policy Analytics, the gross assessed value of homes jumped 16.5% on average between 2022 and 2023, and property tax bills increased by 18.2% on average.
Read the rest of the Whitney Downard story for the Indiana Capital Chronicle, here.
