Amid several education-related referendums, voters approved a measure to raise Indiana property taxes for the purposes of school funding.
According to IndyStar, schools were the major beneficiary of last week’s primary vote. In all, twelve school referendums were voted on May 8th and all were approved by large margins.
Under the referendum, Indiana property taxes in Avon, a suburb of Indianapolis, will increase by 35 cents on each $100 of valuation. The measure is therefore expected to provide Avon schools with an extra $9.5 million a year, raising the annual property tax bill on a $100,000 home by $115; a $250,000 home would see its property taxes increase by $460 annually.
In nearby Warren Township, a similar 21 cent increase is also expected to generate $5 million each year for the next eight years. The district said the increased cash flow will help cover transportation costs, teacher recruitment and retention, an expansion of 1:1 technology initiatives and school safety programs.
A small price to pay?
Proponents of the measure which saw widespread support among voters, argue that it was time to increase school funding.
“We’ve been trimming and cutting for seven years. It was time to ask our community to step up and fill in the gaps where the state hasn’t been able to keep up.” – Margaret Hoernemann, superintendent of Avon schools, a suburb of Indianapolis.
With the funding, the school district of Avon plans to hire an additional 50 teachers, administrators, and support staff. Also as a result, the district plans to invest heavily in art, music, and STEM programs for students.
A Higher Bill for Residents?
With property tax increases, higher tax bills are on the way. Therefore, the measures were not without detractors. Some argued the increase places an unnecessary burden on lower income homeowners. Others argued the increase wasn’t enough to cover the rising cost of education.
It should be noted that among current moving trends, residents are increasingly looking at property taxes. Though a modest increase may not tip the scale, it’s noteworthy as an addition to cost of living.
Voters widely approved the measure so Indiana property taxes will be on the rise in several cities across the state. Whether residents agree with the measure or not, this does constitute an increase in cost of living.
To determine your cost of living, download City vs City. Using real, local data; City vs City calculates the true cost of living in your city. The app examines after-tax income, housing and transportation costs, state and local taxes, and more.
If you’re considering moving, compare your current city with another of your choosing. As a result of City vs City’s powerful technology, you’ll see a side by side comparison of costs and be able to make an informed choice.
If you’re looking to move, don’t make a move without downloading the City vs City app first!