12.13.2021 The locally-elected MVCSC School Board of Trustees approved a resolution in their monthly meeting to place a $ .17 operating referendum on the May 3, 2022 ballot. This is a necessary step in securing adequate funding for MVCSC to continue to operate at a functional level, maintain competitive pay for our outstanding teachers and staff, and keep students safe with additional school resource officers.
- Increment Loss: Our Increment dollars ($3.3 million annually for 10 years) that support approximately one-third of our Operations Fund revenue will end in December 2022. That will create a deficit for our district which will impact our ability to provide outstanding support for our 4,500+ students.
- Fire Territory Financial Loss: While we support having adequate fire response teams, the fire territory development reduced our Operations Fund revenue by just over $1 million, annually. That means less money to support quality instruction in our classrooms.
- Tax Cap Loss: MVCSC experiences a high tax cap loss, spanning from $3.5 million in 2021 and an expected $3.8 million in 2022.
- Savings Made: We have taken great strides in making up for this financial loss as well as the significant loss we incur annually due to property tax caps. We have made cuts in expenditures and initiated many savings that help us to the tune of over $2,000,000 each year. These are real savings to you and other taxpayers in our school community.
- The Ask: While the $0.17 ask is $14.02 per month to the average household in our district valued at $200,000, the referendum will also tax businesses that are located in TIF districts that are currently not paying taxes.
- Funds Will Be Used for:
- The referendum funds will also help provide additional pay to our teachers and classified staff, as we have not fully recovered from when pay was frozen for five years in the mid-2000's. This will enable us to retain the teaching staff to continue our "A" rating for our schools.
- These referendum funds would additionally provide at least one School Resource Officer in all schools and two at the high school - to ensure the safety of our 4,500 students.
- The referendum funds would replace the increment dollars and fire territory revenue loss, making our Operations Fund solvent and eliminating deficit spending. We have made enough savings to not need to recapture the full Operations Fund revenue loss.
NOTE: We will be launching an interactive investment calculator soon.
The actual ballot referendum question:
“Shall the Mt. Vernon Community School Corporation increase property taxes paid to the School Corporation by homeowners and businesses for 8 years immediately following the holding of the referendum for the purpose of funding current essential operating needs and academic and educationally related programs, the attraction and retention of teachers and staff through increased compensation, and safety and security measures, at a maximum referendum property tax rate of $0.17? If this public question is approved by the voters, the average property tax paid to the school corporation per year on a residence would increase by 15.8% and the average property tax paid to the school corporation per year on a business property would increase by 10.5%. The most recent property tax referendum proposed by the school corporation was held in 2014 and passed.”
Note: Legislature requires specific verbiage in this question. The 15.8% and 10.5% does not mean your home's property taxes will increase that much. These percentages refer to the slice of the tax "pie" that MVCSC would receive among all tax recipients. The tax calculator above is the best way to calculate your household's investment in our community.