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Consultant warns Senate Enrolled Act 1 will push Mount Vernon tax rates higher, trim district revenue
Summary
A Policy Analytics consultant told the Mount Vernon Community School board that Senate Enrolled Act 1 will reduce net assessed value, raise tax rates across districts and cut several revenue streams the district now receives, possibly forcing trade-offs between debt service and operations.
Mount Vernon Community School board members heard a detailed analysis Thursday on how Senate Enrolled Act 1 could affect the district’s tax base, revenues and borrowing options. Barry Gardner of Policy Analytics told the board the law will reduce districts’ net assessed value and likely raise school tax rates even if districts do not seek more revenue.
The presentation focused on three main impacts: rising tax rates, pressure on levies and a direct effect on taxpayers. Gardner said the law increases homeowner deductions and phases in other deductions that “drive down net assessed value,” and that change will push tax rates up to generate the same revenue. He added that a new 10% homestead credit (capped at $300) starts in 2026 and immediately reduces revenue the district would otherwise collect.
Why it matters: the district’s revenue math depends…
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