Governor Daniels' circuit breaker plan is intended to limit the amount a person's property taxes increases by tying it to a percentage of their assessed valuation. That cap would not be uniform, however, throughout the state. As the Star explains it:
Kitchell told the state Commission on Tax and Financing Policy on Monday that under Daniels' so-called "circuit breaker" plan, targeting the relief would in effect result in homeowners' bills going up no more than a set percentage of assessed valuation, with the amount differing by county.
In most counties, he said, increases would be held to 1 percent of assessed valuation. In Marion County, the amount of relief would in effect limit bills to about 1.6 percent of a home's assessed value.
While about half of the state's homeowners would be given a break under the plan, Kitchell said, about a third of homeowners in Marion County would see some kind of relief.
The Governor's folks might want to read the Indiana Constitution. "The General Assembly shall provide, by law, for a uniform and equal rate of property assessment and taxation and shall prescribe regulations to secure a just valuation for taxation of all property, both real and personal," reads Article 10, Section 1, if it makes any difference. Note to lawmakers: If you still think we should go forward with the "rebate in the mail" scheme, you haven't moved forward in the least bit since you concluded one of your most embarrassing sessions in the history of the state.