4 articles tagged with "lit".
Property Taxes6 min read
SEA 1 lets counties adopt a local income tax of up to 0.3% in 2026-27 solely to reduce homestead property tax bills. How it works — and why it isn't the replacement LIT.
Property Taxes6 min read
Indiana counties had a year to decide whether to impose SB 1's replacement LIT. As of mid-2026, the patterns are clear: urban counties imposed, rural counties largely declined, mid-sized counties split. Here's the scoreboard.
Property Taxes6 min read
SB 1 gave Marion County authority to impose up to a 1.2% replacement Local Income Tax. The City-County Council's 2026 decision shapes household budgets for the next several years. Here's what was decided, who's affected, and the dollar impact.
Property Taxes6 min read
SB 1's $1.3B in property tax savings has to come from somewhere. Counties got new authority to impose a replacement LIT from July 1, 2025; municipalities get their own LIT authority starting 2028, capped at 2.9% combined. The relief on your property bill may appear as a deduction from your paycheck. Who wins, who loses.