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Munster CFO warns Senate Enrolled Act 1 could reduce district revenue, urges public outreach
Summary
Chief Financial Officer Bill Melby told the School Town of Munster board that modeling shows a multi-year decline in net assessed value under Senate Enrolled Act 1, which would cut levy revenue unless the tax rate is raised; trustees discussed community education and contingency planning.
Chief Financial Officer Bill Melby told the School Town of Munster Board of School Trustees on Dec. 8 that state changes in property tax law known as Senate Enrolled Act 1 are projected to reduce the district’s net assessed value and, unless offset by higher tax rates, will lower levy revenue in coming years.
Melby presented Policy Analytics projections showing a decline in net assessed value beginning in 2027 and continuing through 2031, with cumulative decreases that would require higher tax rates to preserve the same…
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