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District finance director details tax, circuit-breaker and charter-sharing impacts on operations fund
Summary
District finance staff told the Gary Community School Board that circuit-breaker caps and a new law requiring charter-sharing will substantially affect property-tax collections and operations-fund receipts.
Gary Community School Corporation finance staff presented a detailed report on property-tax mechanics, circuit-breaker impacts, and the effect of Senate Enrolled Act 1 on district revenues and projections.
Linda Zaborowski explained the basic calculation: the district requests a levy to fund its budget, the county assessor values property, and tax rates are set to meet revenue needs. She said the district’s certified operating levy request for 2025 was $31,880,000. Circuit-breaker caps reduced the collectible portion by about $22,700,000, yielding an estimated net collection of $9,550,000. Zaborowski told the board that the district’s operations fund received a $3,390,000 spring disbursement in June; a second disbursement is expected later in the year.
Zaborowski also described…
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