finance

Indiana Property Tax Caps (Circuit Breaker)

Indiana's constitution limits property tax bills to a percentage of gross assessed value, with a circuit breaker credit for any excess: 1% for homesteads, 2% for other residential property, long-term care, and agricultural land, and 3% for nonresidential real property and business personal property. Voter-approved referendum taxes fall outside the caps. Homestead deductions lower net assessed value but are not automatic; a new owner must qualify and file. Indiana has no real estate transfer tax; a sales disclosure form is filed with the county.