Braun: Cut property taxes and freeze future increases
INDIANAPOLIS (WISH) — Republican governor candidate Mike Braun on Friday said he would expand property tax relief eligibility if elected.
Braun released his proposal to cut property taxes Friday morning. Chief among the plan provisions is a change to the homestead deduction. Braun’s plan would allow anyone whose home has an assessed value over $125,000 to deduct up to 60% of their home’s value from their tax bill. Anyone with an assessed value under $125,000 could deduct up to 60% of their value and also take the standard deduction of $48,000. He also called for freezing annual tax bill increases at 2% for seniors, low-income families, and families with children under 18 and 3% for everyone else.
Braun’s plan also takes aim at tax referendums. His plan would require any school referendum votes to take place during high-turnout elections such as general elections in even-numbered years. It also would require any referendum language to include data showing the impact on the median property tax bill.
“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… My commitment to this agenda stems from my dedication to protecting the financial stability and well-being of Hoosier families.”
Mike Braun, (R) Candidate for governor
Sharp spikes in property taxes in Indiana have driven several legislative efforts over the past two sessions. Lawmakers this year passed legislation to allow counties to exempt mobile homes and manufactured homes from property taxes and to increase the assessed-value limit for the disabled veteran property tax exemption to $240,000. Last year, the General Assembly passed a law to temporarily increase the homestead deduction for the 2024 and 2025 tax years.
Democratic candidate Jennifer McCormick’s campaign attacked Braun’s previous votes on legislation that allowed counties to levy additional taxes on parcels of real estate.
“Hoosiers are sick and tired of politicians who will say anything to get elected. Mike Braun voted for higher Hoosier property taxes when he had the chance and is now only talking about a tax cut because he’s another politician Hoosiers are sick of.”
Jennifer McCormick, (D) Candidate for governor
Libertarian candidate Donald Rainwater said the plan doesn’t go far enough because it doesn’t stop property tax increases outright and doesn’t prevent the loss of one’s home through a tax sale.
“This is a band-aid meant to temporarily the citizens’ concerns during an election year, instead of an actual resolution to the problem of Hoosiers never really owning their property.”
Donald Rainwater, (L) Candidate for governor