Presentation, Adoption
of the Referendum Resolution
THE PROCESS
CURRENT REFERENDUM
THE EXPENDITURES
TAX HISTORY
Cash Flow Projections
OPERATING REFERENDUM RATE
Tax Reform Impact on Indiana Schools
QUESTIONS, COMMENTS
The school board must adopt a resolution approving the referendum and the proposed spending plan before it can move forward.
After the school board approves the resolution:
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The Indiana Department of Local Government Finance (DLGF) reviews the referendum question and supporting materials to ensure they comply with state law and approves or rejects the ballot language.
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Once approved, the question is certified to the appropriate county election officials and placed on the ballot.
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The voters of the school district have the final authority — the referendum is approved only if it receives a majority vote.
The current active referendum tax levy was approved in 2019 at a rate of $ 0.23 per $100 of assessed property value for eight years.
If passed, the new referendum would start in 2027 and continue through 2034. The current referendum would expire as the new referendum begins. Taxpayers would not be paying a combination of both tax rates.
TOTAL: $9 million
$4.5 million to hire and retain teachers
$2.25 million each for student health and safety, classroom management and other programs.
2021 (highest) - $1.70 per $100 of assessed property value
2026 - $1.23 per $100 of assessed property value
Indiana's recent property tax reforms introduce significant changes that will affect homeowners, businesses, agricultural property owners and local government funding over the coming years. The legislation phases in new deductions, credits, and exemptions while modifying assessment methodologies and eliminating several existing tax deductions, resulting in both tax relief opportunities for some taxpayers and potential revenue impacts for local taxing units, including school corporations. Here are some of the impacts:
Homestead Deductions
Increased from 37% of assessed value in 2025, phased in over time, to 67% of assessed value for taxes due in 2031. Standard deduction is phased out by 2031.
2% Cap Tax Class Deductions
New deduction for non-homestead residential (2% circuit breaker class such as apartments, long-term care facilities and agriculture), phasing in each year to 33% by 2031.
Homestead Residential Credit
New credit for homestead residential properties equal to the lesser of 10% of the taxpayer liability or $300. To be applied after Constitutional circuit breaker caps.
De Minimis Business Personal Property Exemption
Exemption threshold for de minimis business personal property (purchase price $2M or less) increases from $80K in 2025 to $2M for 2027.
Business Personal Property 30% Floor
With certain exceptions, new business personal property purchases are exempted from the 30% floor and therefore will continue to depreciate below 30% of cost.
Farmland Assessed Value
New methodology for agriculture base rate beginning in 2026 including the capitalization rate changed from 8% to 9% for January 1, 2025 and January 1, 2026.
Elimination of Deductions
Most non-local property tax deductions are eliminated for taxes payable in 2026 such as solar energy, wind, geothermal, etc. Other historic deductions such as over-65, blind/disabled were converted to credits.
Any community member, group, organization, or business that may have additional questions or would like to learn more about this proposed referendum can contact the administration building at 317-346-8700.