Pryor: This is an important step on the path to reversing gentrification in Indiana
Today, Senate Bill 46 passed out of the House of Representatives. The bill allows for the creation of Neighborhood Enhancement Districts (NED), which provide families with a circuit breaker tax credit on Homesteads. The credit benefits families and individuals immensely, giving relief to Hoosiers whose homes’ assessed value increased dramatically by capping the amount their property taxes can raise in a given year.
State Rep. Cherrish Pryor (D-Indianapolis), a member of the Ways and Means Committee and co-sponsor of the bill offered the following statement on SB 46:
“I have been fighting against gentrification since 2016 at the Statehouse, and this bill signifies that my colleagues across the aisle are listening and ready to provide property tax relief to long-term homeowners. Senate Bill 46 will help Hoosiers of all races and low-income individuals in NED who have been gravely affected by rising property tax rates for years. NEDs are going to bring relief to low-income families and homeowners, ensuring that they can keep their homes and remain in their neighborhoods.”
“While I'm proud this bill has passed, my only regret is that it passed too late to help Hoosiers receiving their property tax bills this month. I am hopeful, however, that this legislation will have an enormous, beneficial impact on Hoosiers for years to come.”