WHAT’S THE PLAN?

South Bend School District

Costing Taxpayers More Giving Students Less

  • What is South Bend's Plan for improving academic performance?
  • What is South Bend's Plan for improving financial management?
  • What is South Bend's Plan for all its empty buildings?

Vote NO on South Bend’s request for additional funding.

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How Much Will It Cost You?

You can see how much the referendum proposals would cost for a property by going to the Indiana Department of Local Government Finance’s referendum impact calculator, https://gateway.ifionline.org/CalculatorsDLGF/RefCalculator.aspx. The proposed increases in tax rates are:

  • (1) For the $54 million capital expenditure proposal, the increase would be $0.0663 per $100 of assessed value.
  • (2) For the proposal for an increase in tax to provide operating revenue of $20.8 million per year for eight years, the increase would be $0.3334 per $100 of assessed value.

The impact is lower for owner-occupied residential property that qualifies for the homestead exemption than for other property since the increased tax rates apply to only a fraction of the value. Examples:

Assessed Value

Net Assessed Value With Homestead Exemption

SBCSC $54 Million Capital Expenditure Proposal

SBCSC $20.8 Million Per-Year Operating Revenue Proposal

First Year Tax Increase

Future Tax Increases

First Year Tax Increase

Future Tax Increases

$100,000

$35,750

$24

$456

$119

$952

$200,000

$100,750

$67

$1,273

$336

$2,688

$300,000

$165,750

$110

$2,090

$553

$4,424

Non-Homestead Residential Or Business/Commercial

$100,000 (no exemption)

$66

$1,254

$333

$2,664

$200,000 (no exemption)

$133

$2,527

$667

$5,336

$300,000 (no exemption)

$199

$3,781

$1,000

$8,000

$1,000,000 (no exemption)

$663

$12,597

$3,334

$26,672

The extra cost for rental and business property will affect you by affecting South Bend’s economy.Many cities offer tax reductions to businesses to encourage investment and development. This is the reverse: higher taxes are a disincentive to invest and will reduce economic growth.