Property tax caps will benefit more homeowners

INDIANAPOLIS – The percentage of homeowners who will benefit from property tax caps next year will nearly double, according to an analysis released Thursday. But that also means a dramatic decrease in revenue for local governments and schools statewide.

For property tax bills paid this year, the caps saved $478 million statewide.

This is money that local units don’t receive to provide services. Around the state, libraries have trimmed hours, buses have cut routes and cities and towns have eliminated positions.