Bartholomew Consolidated School Corp. has begun budgeting property tax referendum funds for 2021.
In June, BCSC’s property tax referendum passed with 61.33% of the vote approving the tax increase.
The referendum property taxes will be collected from 2021 to 2028, at which point the community would vote on whether or note to renew the referendum.
While the tax increase won’t take effect until May 2021, school officials have said in the past that the board plans to issue a tax anticipation warrant in January, which will allow the board to start spending funds and enact pay increases for teachers prior to collection of that tax revenue.
BCSC Assistant Superintendent of Financial Services Chad Phillips gave a presentation on the school corp.’s 2021 budget on Sept. 28, including the proposed tax rate and the referendum operating fund.
Right now, the "advertised" tax rate for 2021 is $1.0259, though the final rate will likely be reduced by one or two cents after being reviewed by the Department of Local Government Finance, Phillips said.
“During the referendum, we spoke often about our desire to keep that around the $1-$1.01 mark, and we fully expect to be able to do that on the final tax rate," he said. "That does include the $0.156 operating referendum rate.”
The final tax rate for 2020 was $0.8451. According to figures provided by BCSC, this compares to the higher state average of $1.07.
According to a property tax calculator on BCSC’s website, a home with an assessed value $141,800 — the average home value in BCSC’s tax district — will see an estimated annual property tax increase of $93.48, or $7.79 per month under the referendum. A property assessed at a value of $300,000 could expect to see an increase of around $253.89 per year, or $21.16 per month.
For 2021, the referendum operating fund is $7,476,750. The fund includes:
- $4,444,050 on increases for teacher salaries
- $855,950 on increases for teacher benefits
- $1,176,675 on increases for non-certified staff salaries
- $273,325 on increases for non-certified staff benefits
- $76,674 for safety and security staff salaries
- $24,576 for safety and security staff benefits
- $225,500 for safety and security professional services
- $400,000 safety and security property and equipment
The final category includes the cost of buying three buses as part of BCSC’s bus replacement plan, Phillips said. In 2021, the school corporation hopes to replace 11 buses at an approximate cost of $1,414,749. Three of the buses will be bought using referendum funds; the other eight will be purchased using general obligation bonds.
BCSC school board members are expected to consider the budget on Oct. 19.
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More information about the referendum’s budget and its goals can be found at www.bcscschools.org/referendum.
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