The ballot question for Vigo County voters on Nov 5th will ask for a property tax increase of “not more than $.1622 per $100 dollars of assessed value” and will last for 8 years.
School officials want to use the estimated $7million a year increase in revenue to fund a pay raise for teachers as well as transportation, resource officers, and behavioral councilors.
After the 8 year property tax expires, a new referendum would need to pass to fund the raises and positions covered on Nov. 5th’s ballot.
Vigo County School Corporation has also stated it needs this new revenue to compete with school districts that allow a newly hired teacher be paid a higher wage based on their years of teaching experience.
The proposed tax hike would add an additional $158.52 a year in property taxes on 200k home.
The Vigo County School Corporation hopes to pass another referendum in 2021 to raise money for building projects.
The second referendum would generate $200million in new tax revenue to fund building repairs or replacement.
The 2021 referendum would result in another $369.00 a year property tax increase on a 200K home.
The combined total would amount to roughly $43.96/month or $527.60 each year to the tax bill and is not limited to property tax caps.
Vigo county residents have been hit with large property tax increases due to the assessed value of their homes going up. These new taxes would be in addition to the property taxes a homeowner pays each year.
This years property tax increase comes on the heals of last years income tax increase. People who live within Vigo County now pay a 2% county income tax up from 1.25%. This is in addition to State and Federal income taxes.
One local homeowner stated that “between the increase in trash fee, water and sewage, income tax and property tax my monthly income has decreased over $150/month in the past few years. I will always support teachers, police, and children no matter what it costs. Everybody deserves a raise and so far everyone in the city and county has gotten one. I plan to apply soon.”
Vigo County School officials warn that if the proposition on Nov 5th’s ballot does not pass, school administration will need to cut money by redistricting students. Currently 1/3 of all schools in the county are less than 75% full with some showing fewer than 50% capacity.
By raising the property taxes they can continue to operate business as usual despite a rapid decline in student population. The added revenue will keep any school closures and class consolidation unnecessary in the short time period.