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IS IT TRUE? Part 2 April 5, 2011 Property Tax Rates vs. Dollars


IS IT TRUE? Part 2 April 5, 2011

IS IT TRUE that the Evansville Vanderburgh School Corporation’s Board voted last night to increase the tax rate on property in Vanderburgh County by 11.1%?…that the rate increase was approved to go from 54 cents per $100 assessment to 60 cents per $100 of assessment?…that this amounts to an increase of $60 in taxes for every $100,000 that your home is assessed for UNLESS you are one of the diligent people who has succeeded in having your assessed value reduced to reflect the DROP in housing values?…that if your home’s assessment recently was adjusted downward by 10% that mathematically this rate increase will not result in a tax increase at all?…that if the schools had a need for $540 from every $100,000 of assessed value last year and they need the same $540 this year but the assessments have fallen, that the only way for EVSC to remain revenue neutral is to raise the rate?…that the property owners of Vanderburgh County would be well served to concentrate on DOLLARS instead of RATES?

IS IT TRUE that we can expect similar RATE INCREASES in the next two years to make up for what is certain to be at least two more years of falling assessments?…that Indiana’s system of adjustment for assessment can run nearly two years behind actual market values?…that is why our assessments stayed high or even increased when our values started falling?…that is also why our assessments will continue to fall for a couple of years after our values stabilize?…that the CAP on the total amount of tax that can be levied will limit the effectivity of increasing the rate?…that in a falling market that the RATE to CAP ratio will only result in real dollar tax increases up to the point where the CAP is met?…that once again property owners all over Indiana need to concentrate on DOLLARS and not RATES?

IS IT TRUE that if values fell to ZERO as they have nearly done in some areas of urban squalor where crime, prostitution, and drugs drive families out and create abandonment zones then our schools will be in real trouble?…that in about the 3rd grade we all learned that ZERO times any number EQUALS ZERO?…that means that ANY RATE AT ALL times ZERO is ZERO?…that a falling market exposes a real weakness in PROPERTY TAX CAPS?…that in a rising market with market price assessment and a cap that things tend to work well and rate adjustments are seldom necessary?…that learning how to deal with falling real estate values is negatively affecting more than just schools?…that banking, credit, municipal budgets, family budgets, and yes schools are having to learn to cope with the ugly realities associated with the restricted cash flow that accompanies housing market meltdowns?

IS IT TRUE that learning is the operative word in this whole undesirable scenario?…that if Indiana can actually use cognitive thinking and cooperation to craft a way to adjust the property taxing process to assure adequate funding for EDUCATION and GOVERNMENT without handing politicians a blank check to finance cronyism and waste that it will be a testament to our education system that we can do so?…that defunding education on the basis of diminished valuation of real estate will not only make us a poor state from a net worth perspective but it will assure that we will become a dumb one too?

6 Responses to IS IT TRUE? Part 2 April 5, 2011 Property Tax Rates vs. Dollars

  1. Magic_Man Reply

    April 5, 2011 at 9:21 am

    “that the Evansville Vanderburgh School Corporation’s Board voted last night to increase the tax rate on property in Vanderburgh County by 11.1%?…that the rate increase was approved to go from 54 cents per $100 assessment to 60 cents per $100 of assessment?…that this amounts to an increase of $60 in taxes for every $100,000 that your home is assessed for UNLESS you are one of the diligent people who has succeeded in having your assessed value reduced to reflect the DROP in housing values?…”

    Here is a perfect example of why the “carrots” being offered to BUY “Yes” votes on consolidation are nothing but a scam being perpetrated on the taxpayers.

    The illustrious consolidation committee proposed dropping the 35% sewer surcharge for rural residents if they would only vote in favor of consolidation. “Here it is! The reason you’ve been waiting for. We are offering to BUY your vote with this carrot!”

    Well, believe that and you’ll believe anything! Is there such a huge surplus in the Water & Sewer Dept budget that they can afford to give away free money? Just as the school tax increased due to a drop in revenue, so will the Sewer rate for EVERYONE to make up for the lost revenue by eliminating the 35% surcharge. There are NO cost savings in Water & Sewer associated with consolidation to make up for the lost revenue. That “lost” money has to be made up for somewhere.

    It’s bad enough that “they” have shown they see nothing wrong with buying votes but it is an insult to everyone’s intelligence that “they” think we are stupid enough to believe that we will actually save any money in the long run.

  2. Eville Taxpayer Reply

    April 5, 2011 at 12:52 pm

    Yea, Yea…

    We sold one of out buildings for $1, we need a rate increase to help us buy it back from our union buddies that are refurbishing it via no bid contract.

    PHD level obfuscation & arrogance?

  3. RailOverAuto Reply

    April 5, 2011 at 2:35 pm

    I’m still confused at why those who support publiv schools don’t support vouchers for private schools bc they fear the rich will get the money even though they clearly were for those families making $81,000 to go to public schools on the back of the property taxpayer? Doesn’t add up.

    • RailOverAuto Reply

      April 5, 2011 at 2:37 pm

      Somehow my post got trimmed. What I typed was why do those who oppose vouchers for families making less than $81,000 not object to charging public school families making over $81,000?

  4. NoMoDoh Reply

    April 5, 2011 at 3:15 pm

    NO!!!

    IT IS NOT true that “…the EVSC School Board voted to increase property taxes 11.1% last night” or any night recently. You shouldn’t try to write a column using the C&P as your basic source of information. You should have called Niedhammer and asked her for the correct numbers. She taped the meeting. You could attend the meetings to get the facts.

    IT IS TRUE that the 2010 property taxes for schools, being paid in 2011, are $0.6060, up 5.85 cents per $100 of taxable property from $0.5475 in 2009, pay 2010.

    IT IS TRUE, per Auditor Joe Griese, the Net Assessed Value of property in Vanderburgh Co. is $6.9+ billion. That is after deductions and exemptions.

    IT IS TRUE that JUST THE INCREASE in school taxes will amount to $4,036,500.00+.

    IT IS TRUE THAT the Strategic Agenda School Referendum, which wasn’t supposed to raise our taxes, is increasing them $0.0242 per hundred.

    IT IS TRUE that the tax rate of $0.0242 is not listed on the tax information sheet enclosed with your tax bill.

    IT IS TRUE that this tax is listed on that Tax information Sheet. It is under “Table 2: Property Tax Cap Information”, line 2. You will find a dollar amount for “…voter approved projects and charges (2)” in the far right column.

    IT IS TRUE that this amount is added onto the property taxes that you thought were capped at 1%, 2% or 3%. You are paying more than 1%, 2%, 3% because of a loophole in the law just for schools who had Referendums approved and got too deeply in debt.

    IT IS TRUE that the total to be collected for this extra tax will be $1,669,800+.

    IT IS TRUE that your TOTAL 2010 school tax rate has increased 15% over the 2009 tax rate.

    IT IS TRUE that when Vince Bertram was challenged on WNIN-9 TV regarding raising taxes above the “CAPS”, he stated he had to stay within the budget of his Strategic Agenda and would not raise our taxes to pay for the Referendum.

    IT IS TRUE that taxpayers should “Trust but Verify” what they are told.

  5. Pressanykey Reply

    April 5, 2011 at 9:03 pm

    You will find a dollar amount for:
    “voter approved projects and charges (2)” in the far right column.”
    (NoMoDoh)

    * * * * * * * * * * * * * * * * * * * *

    The voters approved the project because Dr. Bertram told them there would be “NO INCREASE IN TAXES”.

    Bertram knew at the time he said it that it was BS on a grand scale, but practically no one in this community called him out. What person in their right mind wants to take on the Chamber, the Unions, the Banks, and the local newspaper?

    Bertram miss his calling in life, he should have been a salesman, I am convinced the guy could sell sand to an Arab.

    __

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