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Greenfield-Central leaders warn property tax overhaul will shake district finances
Summary
District finance staff told the school board that recent state laws changing property tax calculations and the biennium budget will reduce predictable revenue and could force use of reserves and higher transfers between funds.
Greenfield-Central School District finance staff told the school board on a May meeting that recent state legislation changing how property taxes are calculated will substantially alter the district's revenue math and require the district to use reserves and adjust fund transfers. "This is the largest change to Indiana education finance that I've seen in that time," the presenter said.
The presentation, given during the board's financial report, outlined two separate statewide changes the district is tracking: "Senate Enrolled Act 1," described as property tax reform, and a recently passed biennium budget identified in the presentation as "House Enrolled Act 10/2001." District staff said state legal teams are still interpreting the laws and that definitive…
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