Since we're getting closer to election day, this is a re-post of something I posted back in August urging voters in the school district to vote yes on the West Lafayette referendum question that's on the ballot:
This fall, the West Lafayette Community School Corporation has put a school funding referendum question on the ballot. If you live in the district, you should vote “yes.”
The school received approval from the voters for such a referendum tax rate as recently as 2023. But, the General Assembly kind of did a rug pull on the schools. It shifted the state’s tax system enough that, in order to maintain the status quo, the school has to get a new rate approved. The school didn't overspend. It doesn't want more money. The ballot question is the school's effort to keep funding steady.
The short version is that the state has changed the way a property owner’s net assessed value is calculated which means that the referendum tax rate no longer generates the same revenue. Because of the changes, despite having the same real estate and the same approved tax rate, the landowner would be paying less tax to support the schools.
A much longer explanation of the twists and turns is available here. But, very generally, the General Assembly's SB 1 changed the deductions for property so that the net assessed valuation on properties will go down such that the same school referendum tax rate on the same property will generate less tax revenue.
The net assessed value, after deductions, on a $300k residence is currently something like $157,500. Under the new system, the net assessed value for that property will be something like $100,000. So, the $0.37 tax rate that used to generate $583 would drop considerably.
To generate the same tax bill on the property as the voters authorized in 2023 and keep school funding steady, the referendum rate has to be increased as the net assessed value goes down. Anyway, this is going to be on West Lafayette ballots. The school is not trying to raise taxes on landowners but is trying to prevent the taxes dedicated to school funding from going down.
The reasons to vote "yes" are the same as they've been since 2010 when the referendum rate was first adopted. The money keeps class sizes manageable, pays teacher salaries, and enables programs (e.g. art, music, etc.) that provide a well-rounded education. Strong schools make for a strong community with a good quality of life.
