Property Tax Plans

I was listening to Steve Simpson (WIBC-AM) tonight and he said that Sen. Luke Kenley (R-Noblesville), the point man on taxes in the Senate, has devised a plan as part of the blue ribbon panel for permanent property tax reform. The plan, to be tomorrow, will cut the taxes by 50%, even more than the 1/3 decrease stated by Gov. Daniels. What are your thoughts??