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Munster finance director warns Senate Enrolled Act 1 will alter tax‑rate math, likely increasing the rate though homeowners pay less
Summary
At the Aug. 12 meeting the district finance director summarized current fund balances and warned that state changes (Senate Enrolled Act 1) will reduce the district's net assessed value and likely require an increase in the tax rate even though taxpayers may pay less under the new formula.
The School Town of Munster's finance director told the School Board Aug. 12 that changes under Senate Enrolled Act 1 will change how tax rates and assessed values interact, likely requiring the district to increase its tax rate even while residents’ bills may fall. "Senate enrolled act 1 has changed the game," Finance Director Mister Melby said, explaining that gross assessed value is expected to rise while the law's…
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