Lake Central board votes to advertise 2026 budget and higher tax rate amid state law changes and enrollment decline

Lake Central School Board on Monday voted to advertise the district’s 2026 budget, capital projects plan and five-year bus replacement plan and to advertise a higher levy rate after a 40-minute budget presentation by the district’s director of business services.

The board’s action opens the statutorily required public-notice period and sets a public hearing for the board’s next regular meeting; formal adoption will follow in October. Director of business services James told the board the presentation and the advertised amounts will be posted to the state Gateway system.

James told the board the district’s certified net assessed value is just under $6.2 billion for regular funds and about $6.8 billion for referendum-related parcels in tax increment financing districts. He said the state’s recent Senate Enrolled Act 1 (SEA 1) and related homestead credits and changes to standard and supplemental deductions are expected to reduce net assessed values for taxing units and generate a projected revenue loss for the district over the coming years.

"Because of the law change, those net assessed values are expected to go down," James said. "When the assessed value goes down and you need to raise the same amount of money, the tax rate goes up, and more people hit the tax cap. That means less revenue to local governments like us." He summarized the…