Recent changes to Indiana’s property tax system will likely cut bills for most Hoosier homeowners, a new analysis has found.

But owners of pricey houses are expected to get bigger breaks, while those with low-valued dwellings may pay more, according to an Indiana Fiscal Policy Institute report released Friday.

Its author, Indiana tax expert Larry DeBoer, said Gov. Mike Braun’s hallmark tax law may squash growth in assessed value statewide through 2031, when key changes take full effect.

Chief among them is the homestead standard deduction, which Senate Enrolled Act 1 phases out by 2031. The fixed deduction lops $48,000 off the taxable value of a primary residence.

“If you’ve got a half-million-dollar house – you got a million-dollar house – $48,000 is nothing,” DeBoer said. “If you

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