Porter comments on property tax proposal: ‘I’m hopeful but realistic’

Today, March 5, the House Ways and Means Committee is hearing testimony on Senate Bill 1, the Senate majority’s plan for property tax relief. The bill would cost local governments $1.4 billion over three years: $239 million in 2026, $485 million in 2027 and $688 million in 2028. 

State Rep. Gregory W. Porter (D-Indianapolis) released the following statement: 

“I’m thankful for the work done on SB 1 thus far, but it still has a way to go before it’s perfect. The property tax growth Hoosiers have seen over the past decade is unsustainable. Hoosiers need a helping hand, but we can’t strip our communities. Your property tax dollars go directly to your neighborhood’s schools, firefighters, police and libraries. 

“Local communities would lose $1.4 billion in the next three years, with school districts losing about $371 million. Our public schools will be in a serious bind. The proposed school funding formula gives them next to nothing, and they’re losing millions in property tax revenue. Then, SB 518 will require our public schools to share the meager dollars they receive with charters. 

“These cuts will have a very real impact. There will continue to be potholes in your roads. Your fire and police departments will shrink. Your child’s class sizes will grow since schools can’t afford to hire teachers. 

“Not to mention, SB 1 prioritizes relief for businesses over Hoosier homeowners. Only about a third of the proposed relief would go to homesteads. I’m hopeful we’ll provide robust relief, but I’m also realistic about the needs of our communities.”