STATEHOUSE — State lawmakers have approved a plan for property tax relief, although it’s a scaled-down version.  Among the provisions retained in the bill are relief for homeowners over age 65 and disabled veterans. It also contains a first-time homebuyer tax credit that would last up to five years for homebuyers whose income is less than $75,000 for a home that is worth less than $250,000. Many local governments were concerned about the bill because of how it would impact local revenues which provide funding for basic services such as public safety. Under the scaled-down version, the total loss of revenue to local governments is now $687 million over three years. The original version offered up by Gov. Mike Braun (R) would have cost about $1.6 billion. The bill passed the State Senate Tax and Fiscal Policy Committee 10-3. All the committee’s Republicans who were present for the meeting voted for it. Three of the four Democrats on the committee voted against it.