Assess This
Capping property assessments could become the big “sleeper” issue in this session of the Indiana General Assembly. Already there is Senate Bill 40, which would cap assessments at 5% of a home’s value over the previous year unless there was a sale or other improvements which clearly showed the home had increased in value.
Now there’s Senate Bill 97, which would cap property assessments at 10 percent of its value, unless there was something concrete to show it was more valuable. And while we’re at it, let’s throw in House Bill 1095 which does pretty much the same thing. It also has bi-partisan sponsors.
Oh, and before I forget, there’s SB 213. It would have general property reassessments done every nine years instead of five. And it also provides that real property assessment adjustments done annually under current law will occur every three years between general reassessments.
I’d keep an eye on this issue.
