However, farmers say the smaller tax burden would encourage them to buy newer equipment.
With the state announcing a budget surplus of more than $2 billion, some have called for the state to return funds back to local governments.
The tax now charges homeowners three cents per $100 of assessed value. It could go up by 67 percent.
More property owners are paying their tax bills on time, after a four-year flood of properties being ordered into tax sales.
The circuit breaker has lowered bills on all properties statewide by nearly $500 million.
In a year in which Republicans retook control of the Indiana House, two Monroe County Democrats managed to keep their seats.
A Purdue University professor says making property tax caps part of the state constitution won’t change much for the average Hoosier household.
Voters have a rare chance to change Indiana's constitution this Election Day -- but some groups say it's better left alone.
Columbus’s Fred Armstrong says next month’s property tax cap referendum could hamstring future governments. But one lawmaker says there's no better plan.
About 50 supporters rallying for a property tax cap referendum that will appear on the November ballot gathered on the south side of Indianapolis Wednesday.