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Consultant tells Beech Grove board Senate Enrolled Act 1 will raise rates, cut revenue and complicate referendums
Summary
Policy Analytics presented a multi-year model showing Indiana’s Senate Enrolled Act 1 will likely push district tax rates higher while shrinking net assessed value and district revenue, accelerating difficult referendum and budget decisions for Beech Grove City Schools.
Barry Gardner, director of school services for Policy Analytics, told the Beech Grove City Schools board on June 3 that Indiana’s Senate Enrolled Act 1 will change how local property is taxed and is likely to raise local tax rates even as districts collect less revenue.
Gardner said the law replaces the district’s $48,000 standard homestead deduction with a phased-in percentage deduction and adds a post-circuit-breaker homestead credit equal to 10% (up to $300). “Tax rates are going to go up within this,” Gardner said, and he warned that the result will be a complex mix of lower net assessed value and higher statutory rate figures that can be hard to explain to taxpayers.
The consultant emphasized three pillars for district…
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