Most Marion County property owners will receive a credit on their Spring 2023 property tax bill to help alleviate a rise in prices.

The Indiana Department of Revenue confirmed in an email to the Associated Press Tuesday that residents are required to list their forgiven loans as taxable income per Indiana law.

That tax rate will be 5.4 cents less than August's record-high rate of 62.4 cents, a fluctuation that comes as Indiana's 7% sales tax on gasoline is calculated monthly along with a set tax directed to road projects.

Motorists in Indiana are now paying about 56 cents per gallon in state taxes on gasoline — the highest-ever level shown in state records — and it will increase next month based on rising fuel prices.

With just two months left in the current fiscal year, Indiana is on pace for budget reserves that could top $6 billion.

Perry Township Schools is asking voters to approve an ongoing property tax referendum in the May primary. The referendum would extend the tax increase for home and business owners that was first approved in 2015.

More than 4 million Hoosiers will get a $125 automatic taxpayer refund, starting in the next few weeks.

The Republican tax bill aims to cut the state’s individual income tax by about 10 percent over seven years, meaning the average Hoosier likely won’t notice much difference in their paycheck.

An Indiana Senate committee endorsed a tax proposal on Tuesday without the business and individual tax cut package potentially totaling more than $1 billion that the House approved last month.

Indiana lawmakers on Thursday approved expanding the number of people eligible for anticipated $125 payments this spring under the state’s automatic taxpayer refund law.