Senator Bayh Proposed Bill
By: Import User
Updated: July 1, 2009
Senator Evan Bayh spoke about proposed legislation he believes will give tax relief to middle class property owners.
The proposed legislation is for Indianan’s who don’t itemize their deduction. Senator Bayh passed a similar bill last year. This time around he wants to remove the 500 dollar cap, and make the law permanent. Lifting the cap would allow families to deduct the full amount of their property taxes.
Senator Bayh explains how this would work for a middle class family. “So lets just say a middle class family, 2 folks working to make $75,000 together, with $2,000 property tax bill. They would save an additional $500 by lifting the cap.”
582,000 Hoosier families are eligible for the proposal. Of those families, 180,000 of them would get additional relief on property tax.
The current bill will expire at the end of the month.
