Last week marked the official start of the 2010 legislative session in the Indiana General Assembly. Tuesday was "Organization Day," the official start of the legislature. While mostly a ceremonial day, legislators wasted no time staking positions on several priority issues - one of which are the caps on property taxes.
The property tax caps began to phase in this year and move to their full amount next year at 1 percent of assessed value for residential property, 2 percent for rental property and 3 percent for businesses. The intent though is to make those changes permanent.