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Tri‑Creek reports assessed‑value growth, schedules additional October budget meeting
Summary
Business operations staff reported a 3.25% increase in net assessed value for 2026 and said the district will add a second October board meeting (Oct. 23) to adopt the budget because late state data delayed final calculations.
Tri‑Creek School Corporation business operations staff reported the district’s net assessed value (NET AV) for 2026 rose about 3.25 percent year over year and said the board will hold a second October meeting so the budget can be adopted after late state data arrived.
"We did have some growth here, 3.25, which is good," Dana, the district business operations presenter, told the board. She explained staff sorted assessed values across county jurisdictions and noted some unusually large increases in neighboring communities, which complicates countywide averages and the district’s formula calculations.
Dana said the Department of Local Government Finance (DLGF) release arrived late; many district analyses (including earlier work done by Policy Analytics on the impact of Senate Enrolled Act 1) assumed flat assessed value. The change will alter modeled impacts and could slightly reduce earlier projected losses. Policy Analytics is updating its analysis and staff expect revised reports in about one to three weeks.
Because of the late NET AV release, Dana asked the board to add a second October meeting to adopt the budget before the statutory November 3 deadline. The board agreed to meet Oct. 23 at 6 p.m. for budget adoption; she told trustees a quorum (three members) will be needed at that meeting to finalize the budget.
Staff emphasized that some of the assessed‑value growth is in tax increment financing (TIF) districts and does not translate directly into additional operating tax receipts for the school district. Dana said updated analyses will be provided to show the net effect on district revenues and the previously projected $2 million loss will be re‑estimated.
The board did not take additional budget action at the meeting; it approved the Oct. 23 meeting date by unanimous consent during the business‑operations discussion.
