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Tri‑Creek leaders recommend $3 million referendum to offset SEA 1 property‑tax losses
Summary
District leaders told the school board they recommend asking voters for $3 million in a November 2026 referendum to replace lost property‑tax revenue from Indiana''s SEA 1; the plan would reduce the district''s cash balance and requires major community outreach to pass.
Tri‑Creek School Board leaders on Thursday recommended placing a $3 million referendum on the November 2026 ballot to stem projected property‑tax revenue losses caused by Indiana''s Senate Enrolled Act 1.
In a presentation to the board, Superintendent Dr. Anderson said the district''s operations fund sits in the bottom 25% of Indiana school districts for property‑tax funding and that SEA 1 will materially reduce revenues. He summarized Policy Analytics projections showing an estimated $645,000 loss in 2025 (pre‑SEA 1 baseline), roughly $1.9 million in the current year and a projected high‑water mark of about $2.6 million in levy losses by 2029 under current assumptions. "The only way to generate significant revenue to address this issue is through a referendum," Dr. Anderson said.
Dana, the district''s business‑operations lead, walked the board through ballot scenarios and tax impacts. Policy Analytics calculated an estimated median‑home impact of roughly $302 per year for the $3 million scenario; state rounding rules could make that figure read as about $350 on the ballot example shown to the board. Dana explained the district does not control the exact number that appears to voters: "The county auditor will calculate the final median‑taxpayer amount, and different counties may handle homesteads and rentals differently," she said.
District officials offered four referendum amounts for consideration: $2.5 million, $3 million, $3.5 million and $3.99 million. Board presenters recommended eliminating the smallest option ($2.5 million) because it would leave the district in deficit, and they removed the largest figure ($3.99 million) as beyond what leaders said the district needs. Dr. Anderson and Dana recommended $3 million as the minimum amount to keep the district solvent while legislators and state officials consider funding formula changes.
The administration showed the referendum would largely replace revenue lost to SEA 1 rather than add new programs. Officials said the $3 million option would reduce the district''s cash balance from about $9.2 million to roughly $3.7 million under the presentation''s assumptions (utilities and insurance increases, modest state revenue growth and other factors) and would place the district around an 8% cash‑balance level. Board members noted that the Indiana Association of School Business Officials and IASBO recommend a more prudent cash balance near 16%.
Board members discussed tradeoffs between the $3 million and $3.5 million options. One member said the $3 million request represented "what we need, not a wish list," and that the district must balance voter support against fiscal need.
Next steps outlined by the board included finalizing the figure for a June resolution, asking the county auditor to calculate voter‑facing impacts, and preparing a community education campaign ahead of a November ballot. Board members emphasized town halls, printed materials and visible outreach to explain how the credit structures enacted by the legislature affect the net bill that taxpayers will see.
The board did not take a final vote on the referendum amount at this meeting; members said they will vote on a resolution in June to certify the referendum request to the county.
