Have you heard about the possibility of the Indianapolis City Council phasing out the Homestead Property Tax Credit?

At the July 8th meeting of the Indianapolis City Council, the Local Homestead Credit Review Commission introduced their proposal to phase out the homestead credit over 2 years but the council did not take a vote.  If passed, this would decrease funding for schools and libraries and would increase homeowner’s annual property taxes by approximately $30/year.

If you would like to see the approximate impact on your taxes you can do so here.