Week 6 - Understanding Residential Tax Caps
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Overview
This week's video provides a clear, step-by-step explanation of Indiana’s 1% homestead tax cap and the changes introduced by Senate Enrolled Act 1 (SEA 1). Viewers will learn how property taxes are calculated, how assessed value and deductions work, and why the tax cap plays such a significant role in the final amount homeowners pay.
The video also highlights how SEA 1 impacts Tipton Community Schools by reducing taxable assessed value across the community, leading to long-term implications for school operations, transportation, maintenance, safety, and facilities planning.
This is part of our ongoing Investing in Tipton’s Future series, designed to help our community better understand school funding, local tax policy, and important legislative changes that affect our district.