Deery, Alting vote no on SB1, as property tax reform heads to governor

Plus, Purdue, Daniels go all-in on pro-business business school. Update on LPD investigation on gun at downtown rally. Beach Boys at Loeb Stadium. And minutes out of WL school board's life

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DEERY, ALTING VOTE NO ON SB1, AS PROPERTY TAX REFORM HEADS TO GOVERNOR

Local Indiana senators Ron Alting of Lafayette and Spencer Deery of West Lafayette were among 12 Republicans who voted against a revised Senate Bill 1 early Tuesday morning, as the property tax reform bill headed to Gov. Mike Braun.

Braun indicated that he was prepared to sign the bill touted – based on an Indiana Capital Chronicle report – to save homeowners a collective $1.2 billion in property taxes over three calendar years, from 2026 through 2028, largely by creating a credit for 10% off every homestead’s bill, up to $300 each.

From that Indiana Capital Chronicle account: “Local units of government would lose a projected $1.5 billion over the three years, per the fiscal analysis. Public school corporations alone represent about half the anticipated loss, at $744 million — although Democrats contend other tax changes push that figure to almost $800 million.”

(Photo: Dave Bangert)

• Here’s more from the Indiana Senate debate late Monday and early Tuesday, via Indiana Capital Chronicle reporters Casey Smith and Leslie Bonilla Muñiz: “Indiana Senate sends finalized local property, income tax plan to governor. Gov. Mike Braun previously wavered on the legislation but said early Tuesday he plans to sign it into law.”

According to a fiscal analysis with the bill, overall net property tax revenues in Tippecanoe County would drop under SB1 by $8 million in 2026, $6.4 million in 2027 and $11.8 million in 2028. Those amount to decreases ranging from 2% to 3.6% over three years, compared to what the current law would have projected in revenues in the county.

Across the cities, county and schools, the fiscal analysis show the three-year changes include:

• Lafayette city: Cuts of $1.1 million to $1.9 million, a range of 2.3% to 3.6%.

• West Lafayette: $492,100 t $1 million, a range of 3.3% to 6.7%.

• Tippecanoe County: $2.4 million to $4.1 million, a range of 5.4% to 8.1%.

• Tippecanoe School Corp.: $2.7 million to $3.1 million, a range of 4.5% to 5.1%.

• Lafayette School Corp.: $424,670 to $829,580, a range of 1.7% to 3.1%.

• West Lafayette Community School Corp.: $563,110 to $1.7 million, a range of 2.9% to 8.2%.

For other units of government in Tippecanoe County and across the state, here’s a link to the fiscal analysis.

Deery said he based his vote off numbers that tracked year-over-year revenue, according to the new law. Those calculations – as laid out in one of two fiscal outlines tied to the bill – showed revenue growth in many cases, just not at the same pace. Even with that more conservative take on the bill, Deery said Tuesday that he couldn’t vote for SB1 in its final form.