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The $3,000 property tax deduction for mortgaged property is eliminated beginning Jan. 1, 2023, and the homestead deduction is increased to $48,000 from $45,000. The senior citizen tax deduction may be claimed on homes worth up to $240,000, instead of a maximum of $200,000. (House Enrolled Act 1260)

Hoosier taxpayers can count on receiving a $200 tax rebate payment from the state sometime in the weeks and months ahead.

Republican Gov. Eric Holcomb is promising to sign into law Senate Enrolled Act 2 after the measure won final approval 93-7 in the Indiana House Friday, and 37-9 in the Senate.

Originally published on nwitimes.com, part of the TownNews Content Exchange.