Older Hoosiers express financial concerns, support property tax relief in new AARP survey

After seeing steep increases in property taxes over the past several years, older Hoosiers are increasingly worried about the financial pressure these taxes are causing – and they are looking for state leaders to provide some relief.

These concerns were part of the findings released Wednesday from a recent AARP Indiana survey of Indiana voters aged 50 and over who own a home.

“Property taxes are critical to the well-being of our communities,” AARP Indiana Legislative Director Ambre Marr said. “But older Hoosiers cannot always afford them. This is especially true when they are experiencing property tax increases on top of other rising monthly expenses like utilities, groceries, and health care. This session, state leaders have an opportunity to provide tax relief that should be targeted to those who need it most and help older Hoosiers stay in their homes and communities as they age.”

According to the survey, 84 percent saw an increase in property taxes in the past three years and 66 percent believe the amount they pay is high. Nine in 10 (90 percent) believe it should be a priority for lawmakers to lower property taxes in 2025.

Other key findings from the survey include:

Policy proposals

• Ninety-three percent agree that increased communication about existing state property tax relief programs is essential.
• Seventy-four percent support allowing all Hoosiers to pay property taxes on a monthly basis.
• Seventy-six percent support the implementation of a new statewide tax credit for older homeowners.

Financial concerns

• Forty percent of respondents describe their current financial situation as fair or poor.
• Fifty-five percent express concern about having enough money to be financially secure throughout their retirement years.

Rising costs

• Seventy-nine percent have seen their homeowner’s insurance premiums rise.
• Forty-one percent of older Indiana homeowners now pay more than $2,000 annually in property taxes.
• Forty-four percent are worried about their ability to pay property taxes in the future.

Impact of potential property tax increases

• Sixty-three percent say it would make it difficult to afford home repairs and maintenance.
• Fifty-seven percent say it would make it difficult to afford homeowner’s insurance.
• Fifty-six percent say it would make it difficult to afford mortgage payments.
• Fifty-four percent say it would make it difficult to afford utilities.

To view the full survey results visit aarp.org/INPropertyTaxPoll.