This article is the third in a series about recent changes to property taxes and revenue streams enacted in the 2007 Indiana General Assembly. We thank Buddy Downs and Karen Arland from Ice Miller LLP for their research and insights.

Before the property tax circuit breaker provisions enacted by the Indiana General Assembly in 2006 could go into effect, they were altered in the 2007 session. A circuit breaker puts a cap on property taxes for certain taxpayers. Circuit breaker credits are deducted proportionally from the revenue flowing to each entity in the taxing district, except for school tuition support funds. Redevelopment commissions can also exempt tax increment replacement levies for the tax credit.

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