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Outside analyst: SEA 1 will lower MCCSC referendum revenue, prompt referendum timing decisions
Summary
A Policy Analytics presentation to the Monroe County Community School Corporation cautioned that Senate Enrolled Act 1 (SEA 1) will shrink net assessed value through new deductions, reduce referendum and operations revenue over several years, and require the district to weigh running a referendum earlier to avoid charter-share rules.
Policy Analytics consultant Barry Gardner told the Monroe County Community School Corporation board on Oct. 28 that Senate Enrolled Act 1 will reduce the district’s net assessed value over a multi-year phase-in and trim revenue sources traditionally used to support operations and referendums.
Gardner said the law increases multiple deductions—homestead credits, a 2% class for certain apartments, and a business personal-property exemption—that together shrink the tax base the district uses to raise revenue. “The mechanics of Senate Enrolled Act 1 are going to increase tax rates regardless of what the school district does,” Gardner said, adding that higher rates do not automatically translate to more revenue when net…
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