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The Indiana Farm Bureau today proposed cutting property taxes by about a third, or more than $2 billion, and replacing the lost revenue with higher income and sales taxes.
Under the proposal, costs for schools, welfare, local courts and the “rainy day” fund would be shifted from local government to the state.
The state personal income tax would rise to 4.4 percent from 3.4 percent, and the sales tax, to 7 percent from 6 percent.
The organization has fought property taxes for decades, reasoning that property taxes must be paid regardless of changes in weather, crop prices and other conditions that affect farm income.
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