Funding Harrison Square Park

Residential property tax bills are expected to rise an average of nearly 24 percent statewide this summer, much more sharply than anticipated, state lawmakers said today.

Theodore Kim from the Indianapolis Star:

Previously, legislative experts had estimated that residential bills would rise nearly 15 percent because of a number of factors, including a new six-year property assessment going into effect. Those projections have driven a debate by the General Assembly this year on property tax relief and reform.

However, new estimates based on updated assessed value information from 33 of Indiana’s 92 counties show that the increase in residential bills is now expected to be much higher.

Rep. Jeffrey Espich, R-Uniondale, the House GOP’s fiscal leader, revealed the new data during a speech today before the full House.

He and other lawmakers called the situation a “crisis” and a “disaster” that the General Assembly must help rectify before the session adjourns on Sunday.