INDIANAPOLIS – Indiana lawmakers have passed a bill that may reduce your upcoming increase in property taxes.

House Bill 1499 was approved by the Indiana General Assembly with almost unanimous support in the final hours of the legislative session. It’s now under Governor Eric Holcomb’s consideration.

The bill also expands eligibility for Hoosiers age 65 and older to qualify for additional deductions. Those would be adjusted based on cost of living increases applied for Social Security benefits.

The savings for each homeowner would vary since property tax rates are different for each community.