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Policy Analytics: Tri Creek may need $2M–$4M referendum to avoid deep cuts as SEA 1 reduces local revenue
Summary
Barry Gardner of Policy Analytics told the Tri Creek School Board that new state deductions and credits under SEA 1 will lower net assessed value and likely force operating‑referendum math that could require $2 million to $4 million to prevent the district from exhausting cash reserves, and walked trustees through levy and fixed‑rate options.
Barry Gardner of Policy Analytics told the Tri Creek School Board that the district receives “just a little bit over $1,500 per student” from property taxes into its operations fund and sits near the 20th percentile among comparable districts. “That creates challenges around your operations fund and being able to support paying the lights, property casualty, all those kind of costs,” Gardner said.
Gardner framed the district’s options in light of recent state policy changes under SEA 1. He said a change in homestead deductions and an expansion of credits — plus a jump in the business personal property exemption — will reduce net assessed value beginning in 2027 and create what he called “unfunded credits”: revenue the district…
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