Property Tax Cap passes Senate -next stop- Public referendum in November

When you go to vote in November, you will see a referendum in regards to the Property Tax Cap.
It just passed the Indiana Senate by a vote of 35 to 15.  This was previously passed by the Indiana House.
If the referendum is approved, the amendment will be added to the state Constitution and would cap residential property at 1% of a homes value, agriculture land at 2% and business property at 3%.  Word on the street is that you have to have your homestead exemption filed on your home to qualify for the tax cap  - so check your exemptions!