FOR IMMEDIATE RELEASE
Contact: Lance Gideon, Press Secretary
STATEHOUSE (March 1, 2023) — A bill authored by State Sen. Brian Buchanan (R-Lebanon) that would modify the definition of a homestead for the purposes of the homestead standard tax deduction passed the Senate Tuesday by a vote of 41-8.
Senate Bill 325 would allow any building not being used for commercial purposes on a one-acre parcel of land to be considered part of a property owner's homestead and therefore eligible for the 1% property tax cap.
"This bill could help lower the property taxes for many Hoosiers across the state who claim a homestead standard deduction on their property and ultimately make homeownership more affordable," Buchanan said. "I am happy to see the bill pass the Senate and continue through the legislative process."
SB 325 now makes its way to the House of Representatives for further consideration.
As the 2023 session progresses, Buchanan encourages residents of Senate District 7 to contact him with any questions or comments they may have at Senator.Buchanan@iga.in.gov or 800-382-9467.
State Sen. Brian Buchanan (R-Lebanon) represents Senate District 7,
which includes Clinton County and portions of Boone, Hendricks and Montgomery counties.
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