INDIANAPOLIS — MSD of Wayne Township is asking voters to approve a $10 million referendum on the May 7 ballot.
The board of education approved the property tax referendum at its meeting on January 28.
If approved by voters, it would cost the median homeowner with a $91,000 home would pay an increase of $8/month and $4.33 per month for homeowners ages 65 and over who qualify for the deduction.
The additional funds would help the west side school district continue to enhance student security, and continue to replace the money currently spent on transportation and preventive maintenance.
MSD of Wayne Township is also looking to avoid reducing academic programs they say are critical to student success, as well as recruit and retain highly effective teachers.
The district blamed a number of factors for the erosion of funding they’ve experienced:
- $9.8 million (38 percent) lost since 2014 due to reductions in the state’s Complexity Index (poverty factor)
- A per pupil increase in state funding of $1 since 2014 versus an 8.3% increase in the Cost of Living (COLA) Index
- Continued instability in property values in Wayne Township, resulting in a reduction in property tax revenue for the district in two of the last five years
- Continued losses in property tax revenue totaling $102,788,545 in revenue lost since 2008 due to state-imposed limits
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