Last year Indiana homeowners were hit with property tax bill increases averaging 17 percent, an extraordinary increase. Will it happen again in 2024? Let’s compare 2023 to what we know about 2024 so far, and take a guess.

The memo was posted at the end of December, on the

Consumer price index Inflation ran at 2.1 percent per

Since then inflation has come down a lot. As of November 2023, prices were 3.1 percent higher than a year before. That’s good

The second installment for 2023 property taxes was due earlier this month. If you’re a homeowner, either you sent a check to your county treasurer or your bank paid the tax out of escrow. Homeowner tax bills were especially painful in 2023. Statewide average homestead tax bills went up 17 percent over 2022, a much bigger increase than in years past. So we wonder, now that 2023 is done, what will happen to tax bills in 2024?

Election Day is coming up, and 12 Indiana school districts have put property tax referendums on the ballot. Voters who own homes will want to know, “How much will I pay if the referendum passes?”   

Indiana has an individual income tax to help pay for state services. Indiana raises about $8 billion a year from its state income tax, which is 36% of total general fund revenues. Most states have income taxes, but eight states do not. Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington (state) and Wyoming do not collect individual income taxes to fund their state governments. How do they get by? What do they do instead?

Inflation is falling, and we’re not in recession. How

The Indiana fiscal new year is upon us, having begun

That amount takes some explaining though, because a

Larry Deboer explains.

Indiana homeowner tax bills increased 17 percent on average this year, the largest increase in years.  Other property owners saw big increases