LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
FISCAL IMPACT STATEMENT
LS 7440 NOTE PREPARED: Jan 8, 2025
BILL NUMBER: SB 315 BILL AMENDED:
SUBJECT: Maximum Levy Growth Quotient Cap.
FIRST AUTHOR: Sen. Baldwin BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: GENERAL IMPACT: Local
DEDICATED
FEDERAL
Summary of Legislation: This bill extends the calculation used to determine the maximum levy growth
quotient (MLGQ) added by HEA 1499-2023 to 2026.
Effective Date: Upon passage.
Explanation of State Expenditures:
Explanation of State Revenues:
Explanation of Local Expenditures:
Explanation of Local Revenues: This bill will set the maximum levy growth rate at 4% for taxes payable
in 2026. The maximum permissible levy controls operating funds. Debt service and referendum funds are
not subject to the maximum levy amount. The current MLGQ for 2026 is estimated to provide for a 5.6%
increase in maximum levies.
CY 2026 maximum levies will be reduced by an estimated $84.4 M. Additionally, because each year’s
maximum levy calculation begins with the previous year amount, maximum levies will be reduced by an
estimated $89.2 M in CY 2027 and $93.9 M in CY 2028. These levy reductions will lead to overall local
revenue reductions and property tax bill reductions estimated at $43.2 M in CY 2026, $46.3 M in CY 2027,
and $49.4 M as compared to current law.
The following table shows the estimated net tax changes by property type.
SB 315 1 Estimated Net Tax Change ($ Millions)
Property Type CY 2026 CY 2027 CY 2028
Homesteads -14.8 -16.2 -17.8
Farmland -2.2 -2.4 -2.3
Other Residential -3.4 -3.7 -4.0
Apartments -1.5 -1.8 -1.9
Ag Business -0.8 -0.9 -0.9
Other Real -12.6 -13.1 -14.0
Personal Property -7.9 -8.2 -8.5
Total -43.2 -46.3 -49.4
Note: Totals may not sum due to rounding.
The following table shows the estimated revenue changes by taxing unit type. [Total estimated local revenue
changes by county appear in Appendix A.]
Estimated Net Revenue Change ($ Millions)
Unit Type CY 2026 CY 2027 CY 2028
Counties -18.5 -19.6 -20.6
Townships -3.4 -3.7 -3.9
Cities and Towns -16.9 -18.0 -19.3
School Corporations 11.3 11.5 11.8
Libraries -3.7 -4.0 -4.2
Special Units -5.7 -6.0 -6.2
TIF -6.2 -6.6 -7.0
Total -43.2 -46.3 -49.4
Total Without TIF -37.0 -39.6 -42.3
Note: Totals may not sum due to rounding.
State Agencies Affected:
Local Agencies Affected: Civil taxing units and school corporations.
Information Sources: LSA property tax database.
Fiscal Analyst: Bob Sigalow, 317-232-9859.
SB 315 2 Appendix A.
Estimated Change in Property Tax Revenue ($)
CntyCounty CY 2026 CY 2027 CY 2028
01 Adams -181,000 -192,000 -198,000
02 Allen -3,334,000 -3,487,000 -3,616,000
03 Bartholomew -673,000 -688,000 -701,000
04 Benton -97,000 -102,000 -105,000
05 Blackford -70,000 -73,000 -75,000
06 Boone -1,009,000 -1,127,000 -1,242,000
07 Brown -77,000 -82,000 -86,000
08 Carroll 0 0 0
09 Cass -189,000 -200,000 -206,000
10 Clark -713,000 -788,000 -846,000
11 Clay -145,000 -153,000 -161,000
12 Clinton -204,000 -213,000 -222,000
13 Crawford -44,000 -45,000 -46,000
14 Daviess -217,000 -229,000 -239,000
15 Dearborn -213,000 -221,000 -236,000
16 Decatur -229,000 -240,000 -251,000
17 DeKalb -468,000 -507,000 -534,000
18 Delaware -275,000 -298,000 -308,000
19 Dubois -250,000 -262,000 -271,000
20 Elkhart -1,816,000 -1,935,000 -2,083,000
21 Fayette -97,000 -101,000 -104,000
22 Floyd -489,000 -506,000 -525,000
23 Fountain -114,000 -119,000 -124,000
24 Franklin -99,000 -107,000 -115,000
25 Fulton -144,000 -150,000 -155,000
26 Gibson -372,000 -393,000 -408,000
27 Grant -324,000 -335,000 -344,000
28 Greene -105,000 -109,000 -108,000
29 Hamilton -3,183,000 -3,797,000 -4,208,000
30 Hancock -604,000 -641,000 -726,000
31 Harrison -212,000 -224,000 -236,000
32 Hendricks -1,309,000 -1,501,000 -1,654,000
33 Henry -177,000 -195,000 -202,000
34 Howard -432,000 -452,000 -455,000
35 Huntington -153,000 -162,000 -166,000
36 Jackson -345,000 -359,000 -370,000
37 Jasper -244,000 -258,000 -271,000
38 Jay -158,000 -157,000 -161,000
39 Jefferson -84,000 -90,000 -92,000
40 Jennings -99,000 -114,000 -117,000
41 Johnson -912,000 -983,000 -1,086,000
42 Knox -248,000 -258,000 -260,000
43 Kosciusko -660,000 -694,000 -729,000
44 LaGrange -227,000 -240,000 -252,000
45 Lake -3,171,000 -3,454,000 -4,512,000
46 LaPorte -576,000 -596,000 -623,000
47 Lawrence -302,000 -330,000 -342,000
48 Madison -356,000 -394,000 -428,000
49 Marion -4,719,000 -4,898,000 -4,873,000
SB 315 3 Appendix A.
Estimated Change in Property Tax Revenue ($)
CntyCounty CY 2026 CY 2027 CY 2028
50 Marshall -350,000 -397,000 -413,000
51 Martin -61,000 -65,000 -68,000
52 Miami -124,000 -132,000 -129,000
53 Monroe -1,609,000 -1,697,000 -1,783,000
54 Montgomery -237,000 -245,000 -210,000
55 Morgan -531,000 -561,000 -590,000
56 Newton -167,000 -175,000 -182,000
57 Noble -382,000 -397,000 -407,000
58 Ohio -34,000 -37,000 -39,000
59 Orange -150,000 -156,000 -162,000
60 Owen -95,000 -101,000 -106,000
61 Parke -80,000 -84,000 -89,000
62 Perry -66,000 -94,000 -98,000
63 Pike -63,000 -65,000 -67,000
64 Porter -1,468,000 -1,546,000 -1,615,000
65 Posey -283,000 -298,000 -311,000
66 Pulaski -101,000 -107,000 -112,000
67 Putnam -202,000 -211,000 -220,000
68 Randolph -128,000 -136,000 -142,000
69 Ripley -143,000 -150,000 -156,000
70 Rush -100,000 -105,000 -109,000
71 St. Joseph -1,155,000 -1,265,000 -1,393,000
72 Scott -83,000 -87,000 -85,000
73 Shelby -330,000 -347,000 -363,000
74 Spencer -219,000 -230,000 -239,000
75 Starke -158,000 -166,000 -174,000
76 Steuben -351,000 -371,000 -390,000
77 Sullivan -100,000 -104,000 -97,000
78 Switzerland -56,000 -59,000 -62,000
79 Tippecanoe -1,426,000 -1,544,000 -1,610,000
80 Tipton -106,000 -111,000 -116,000
81 Union -45,000 -48,000 -50,000
82 Vanderburgh -678,000 -652,000 -574,000
83 Vermillion -119,000 -124,000 -127,000
84 Vigo -284,000 -284,000 -278,000
85 Wabash -120,000 -126,000 -129,000
86 Warren -81,000 -86,000 -89,000
87 Warrick -527,000 -549,000 -574,000
88 Washington -107,000 -114,000 -118,000
89 Wayne -103,000 -111,000 -101,000
90 Wells -190,000 -201,000 -212,000
91 White -215,000 -227,000 -263,000
92 Whitley -218,000 -231,000 -243,000
Total -43,165,000-46,256,000-49,362,000
SB 315 4