The promised tax relief from property owners under the new tax cut law will start on next year’s tax bills. The General Assembly passed the cuts in its latest session, with Governor Braun signing the bill into law.
Jasper State Senator Daryl Schmitt reminds everyone much of the relief will be in homestead deductions. Schmitt also reminds everyone the promised tax relief will not kick in until next year.
Another key part of the new law allows homeowners to defer as much as 500 dollars of their tax bill, up to 10-thousand dollars, until the home is sold. That allows those on fixed incomes to avoid losing their homes to unpaid property taxes.
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