INDIANAPOLIS – Tens of thousands of Marion County homeowners will get a break on their property taxes.

The City-County Council passed Proposal No. 310 Monday. The measure provides a one-time property tax prepayment. Homes with an assessed value of $250,000 or less will get a $150 credit while those valued between $250,000 and $400,000 will receive a $100 credit.

Only owner-occupied single-family homes are eligible for the tax credit, which will affect 191,500 households. The city said the credit will appear automatically on the spring 2023 property tax bill.

Mayor Joe Hogsett and City-County Council President Vop Osili joined residents in the Riverside neighborhood Thursday to celebrate the passage of the measure.

Hogsett said the property tax credit will give residents some relief in trying economic times as inflation cuts into family budgets and home values escalate, affecting property tax bills.

The measure passed unanimously in the City-County Council.