Week 7 - Understanding Farmland Tax Caps
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Overview
This video explains how Senate Enrolled Act 1 (SEA 1) impacts farmland and other properties taxed under Indiana’s 2% property tax cap. Viewers will learn how the new phased-in deduction — reaching one-third of assessed value by 2031 — reduces taxable farmland values across Tipton County and how those changes affect local government and school funding.
Using real Tipton farmland averages, the video illustrates how SEA 1 reduces tax liability for landowners while also shrinking the total tax base supporting essential services.
This installment of Investing in Tipton’s Future helps our community understand how statewide tax changes directly influence school operations, transportation, maintenance, safety, and long-term planning for Tipton Community Schools.