MVCSC would like to thank the Mt. Vernon community for their support in passing the 17 cent referendum. Please see HERE for the full note of appreciation.
(Scroll Down for Tax Investment Calculator)
The locally-elected MVCSC School Board of Trustees approved a resolution in their December 2021 monthly meeting to place a $ .17 Operating Referendum on the May 3, 2022 ballot. 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. Questions? Attend a Traveling Talk and ask Dr. Parker directly!
The $.17 Operating Referendum is a necessary step to:
- Secure adequate funding for MVCSC's Operations Fund to continue to operate at a functional level. The Operations Fund pays for staff (maintenance, bus drivers, custodians, etc.), utilities (keeping the lights on), buses and the maintenance/gas for buses.
- Provide a pay increase for our teachers and classified staff to make their pay more competitive in the county. Mt. Vernon has not fully recovered from when pay was frozen for five years in the mid-2000's.
- Provide additional school resource officers so there is at least one at every school.
- The referendum funds would replace the increment dollars, tax cap loss and fire territory revenue loss, making our Operations Fund solvent. Mt. Vernon has made enough savings to not need to recapture the full Operations Fund revenue loss.
The Operations Fund Deficit is due to:
- 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: Mt. Vernon has 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. Mt. Vernon has made enough savings to not need to recapture the full Operations Fund revenue loss.
TAX INVESTMENT CALCULATOR
May 3, 2022 Operating Referendum Request
$ .17 per $100 of Homeowner's Assessed Value
Vernon & Buck Creek Townships, Hancock County