Mitch Daniels Recounts The Property Tax Cap Victory of 2008
Source: SHAWN THEW / Getty
In 2008, Former Indiana Governor Mitch Daniels’ proposed a property tax ceiling of one percent on residential properties, two percent for rental properties and three percent for businesses.
The plan was approved by the Indiana General Assembly on March 14, 2008, and signed by Daniels on March 19, 2008. That year, Indiana homeowners saw an average property tax cut of more than 30 percent, a total of $870 million in tax cuts. To offset the loss in revenues to the municipal bodies, the state raised the sales tax from 6 percent to 7 percent that year.
The caps have saved taxpayers more than $11 billion since 2010.
Mitch Daniels joins Kendall & Casey to recount this victory and share his thoughts on the current situation with property taxes and the handling of Senate Bill 1.
