The Southwest Allen County Schools property tax rate should be lower next year, according to district officials.
SACS Business Manager Mark Snyder reviewed the numbers Tuesday. No members of the public commented or attended the 6 p.m. budget hearing at the Administration Office. Snyder updated a more detailed report he had presented Sept. 21. He said more recent estimates of the district’s assessed valuation allowed more specific projections of the rates necessary to meet budget levies.
The board will vote on the budget and corresponding tax rates at its next meeting, Oct. 19. The state Department of Local Government Finance then reviews and certifies the budget.
Snyder estimated a total district tax rate of $0.8277 per $100 of assessed valuation, based on an assessed valuation of $3,729,212,740. That rate is down from 0.8508 payable in 2021, and the AV is up from $3,503,393,268.
Components of the referendum fund include .3964 for operations, .3383 for debt service, and .0930 in the referendum fund. The education fund is raised and distributed by the state; that advertised total of $49,604,521 for 2022 is not reflected in local tax rates. SACS anticipates transferring $5,472,000 from the education fund to the operations fund in 2022, in keeping with recent practice.
The total rate of .8277 is the second-lowest in a 14-year span that includes a high of $1.0371 payable in 2014.
SACS voters have adopted a referendum fund rate of 0.1500. Snyder said the proposed lower rate is in keeping with the School Board’s promise to hold the rate below that authorized limit.
Learn more about assessed valuation and other budgeting terms at www.in.gov/dlgf/understanding-your-tax-bill/property-tax-terms.
Find details of the SACS budget and those of other taxing districts at budgetnotices.in.gov.
Southwest Allen County Schools includes all of Aboite and Lafayette townships, including the Allen County portion of the town of Zanesville and the portion of the city of Fort Wayne in Aboite Township.