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New state property-tax law will lower IPS property-tax revenue, presenters say
Summary
Speakers at an Indianapolis Local Education Alliance meeting outlined how Senate Enrolled Act 1 will reduce local property-tax revenue for Indianapolis Public Schools, shift more operations funding to charter schools over time and increase reliance on tax-base growth to raise future revenue.
At a meeting of the Indianapolis Local Education Alliance, policy analysts and Indianapolis Public Schools officials warned that Senate Enrolled Act 1 — the property-tax legislation passed this year — will reduce property-tax revenue available to the district and change how operations funding is allocated to charter schools.
Jason O'Neil, managing director of Policy Analytics, told the alliance that SEA 1 creates new homeowner credits and deductions that will lower assessed value and local property-tax receipts. He cited an estimate from the Legislative Services Agency projecting about a $5,000,000 reduction in IPS property-tax revenue in 2026 compared with the prior baseline.
The changes O'Neil summarized include a state-provided homestead credit equal to 10% of tax liability (capped at $300), a phased increase in homestead deductions that will reduce…
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