Indiana’s New Property Tax Law: What You Need to Know

In April 2025, Governor Mike Braun signed Senate Bill 1 (SB 1), reshaping Indiana’s property taxes. Impacts differ for homeowners, businesses, and farmers. Andrew Lanam, director- public finance with Stifel Financial Corp., will explain - in layman's terms -- how this will impact you, your business, and your customers. 

Key Takeaways:

Homeowners: 10% tax credit (up to $300), new credits for seniors, veterans, and first-time buyers, plus changes to homestead deductions.

Businesses: Rising exemptions on equipment taxes bring relief.

Farmers: Adjusted farmland assessments lower taxes.

Local Governments: Revenue growth capped; referenda limited to general elections.

Bottom line: Many taxpayers gain relief, but tighter local budgets may affect services.