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Consultant: rising home values, caps and new deductions will shape Elkhart Community Schools' property-tax revenue
Summary
Barry Gardner, a consultant with Policy Analytics, told the Elkhart Community Schools Board of Trustees on Feb. 25 that recent home-price gains, statutory deductions and Indiana-era property-tax caps are the primary drivers of the district's property-tax revenue outlook.
Barry Gardner, a consultant with Policy Analytics, told the Elkhart Community Schools Board of Trustees on Feb. 25 that recent home-price gains, statutory deductions and Indiana'-era property-tax caps are the primary drivers of the district's property-tax revenue outlook.
Gardner said the district has a "very diverse" assessed-value mix and that assessed-value growth in recent years has been driven primarily by residential property. He described the tax system as "a very complicated system" and said his firm provides parcel-level projections to help districts model revenue scenarios and long-range financial capacity.
The presentation explained three mechanics that shape revenue: gross assessed value (the market-based valuation of property), statutory deductions…
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