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Beech Grove City Schools

Estimated Impact of the Proposed School Construction and Operating Referenda

Assessed Value Inputs

Enter Total Assessed Value (Gross Assessed Value)1:
Is This a Homestead Property?
Yes   No
Net Assessed Value 2:
Please visit the Marion County Assessor's website to find your Total Assessed Value.
This will be located on the Property Record Card.
Or,
From your Annual Tax Statement from the County Treasurer, TABLE 1, Lines 1a - 1c.

Illustrative Change in Tax Liability From the
Proposed School Construction and Operating Referenda

Description Referendum
Rate
Net Rate
Impact
Estimated Debt Service Tax Rate
for 2020 Construction Referendum
(Tax Rate to be seen on Referendum ballot)3:
$0.2500
Monthly Tax Liability Change:
Annual Tax Liability Change:
 
Proposed Operating Referendum Tax Rate
(Tax Rate to be seen on Referendum ballot):
$0.5500
Existing Operating Referendum Tax Rate: ( $0.3500 )
    Operating Referendum Tax Rate Net Impact:4, 5 $0.2000
Monthly Tax Liability Change:
Annual Tax Liability Change:
 
Illustrative Net Change in Tax Liability from Proposed 2020 Referenda:
Total Referenda Rate (Construction and Operating):
$0.4500
Monthly Tax Liability Change:
Annual Tax Liability Change:

Notes

  1. Real property assessments are adjusted annually due to changes in market conditions. The referenda liability will change in relation to changes in parcel gross assessed value.
  2. Homestead parcels are assumed to have homestead, supplemental homestead and mortgage deductions. A parcels net assessed value may vary depending on its deductions and property class breakdown.
  3. The estimated debt service tax rate for the 2020 Construction Referendum is anticipated to be phased-in over a 2-year period, with the full impact anticipated to begin in 2023.
  4. The proposed operating referendum rate tax of $0.5500 would replace the existing operating referendum rate of $0.3500 resulting in an estimated annual net tax rate impact of $0.2000.
  5. The operating referenda would be approved for eight years.
  6. Local property tax replacement credits are not applied to Operating Referendum tax rates, per Indiana Code 6-3.6-5-6.