Property taxes hinge on general assembly

Property tax payments for Indiana homeowners would drop almost 40 percent if Governor Daniels' tax plan gets through the general assembly.

Daniels introduced his plan that would cap residential taxes at one percent of a home's assessed value.

The state says that would be a 38.6 percent cut in 2009.

Taxes on apartments and businesses would also drop, but not as much.

And an important thing to note, that does not mean homeowners would pay much less than what they pay now.

Taxes are expected to increase again next year, and that is what this information is based on.

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