Indiana’s Governor Mike Braun (R) signed Senate Bill SB 1 into law on 15 April 2025, introducing significant tax relief measures for Indiana residents and businesses.
The legislation provides homeowners with a property tax credit while raising exemption thresholds for business personal property taxes. These changes are set to deliver over USD 1.2 billion in property tax relief.
SB 1 offers a 10% property tax credit on homestead bills, capped at USD 300 per household. It also raises the business personal property tax exemption from USD 80,000 to USD 2 million by 2028. Additionally, SB 1 abolishes the 30% minimum valuation rule for business property in service after 1 January 2025.
