PROPERTY TAX CREDITS

In 2008, the State of Indiana began to limit the amount of property taxes paid by individual property owners. By 2010, these limits were fully phased in and are now incorporated in the State Constitution. For homeowners, property taxes are limited to 1% of the value of their home; for other residential property owners, long-term care facilities and agricultural landowners, property taxes are limited to 2% of the market value; for all other taxpayers, property taxes are limited to 3% of the property’s market value. Unlike other forms of property tax relief, these limits, known as circuit breaker tax credits, are not funded by other sources but reduce the amount of property taxes collected. This property tax relief is funded by each individual taxing unit. As stated previously, legislation enacted in 2025 provides for additional tax credits and other property tax relief to be phased-in through 2031.

Net Property Tax and Property Tax Credits

In 2026, 25% ($8,512,166) of property taxes levied by the County was returned to property taxpayers through property tax credits. The graph below compares the amount of property taxes assessed with the amount of property taxes collected. The amounts shown in red are the amounts of property tax relief given to property owners funded by Delaware County through reductions in property tax collections.