Property Tax Cap Credits - 2010 Impact on School Districts

This is the last in the series looking at the tax cap impact on taxing units in Marion County. Thanks again to Marion County Treasurer, Mike Rodman, and Deputy Administrator, Cindy Land, for their help in obtaining the data.

The table below lists the property tax levy (the amount of revenue from property taxes that the Department of Local Government Finance certified for 2010) for each District, the circuit breaker credit (also called the tax cap credit) data from the Marion County Treasurer's office, and finally the % column, which I calculated by dividing the circuit breaker credit by the property tax levy.

	LEVY	Circuit Breaker Credits	%
IPS	$120,232,632	$13,128,883	10.9%
Decatur	19,475,910	2,387,662	12.3%
Franklin	33,246,782	8,146,195	24.5%
Lawrence	42,914,503	2,312,898	5.4%
Perry	29,831,413	647,927	2.2%
Pike	40,050,402	802,420	2.0%
Warren	28,128,063	783,150	2.8%
Washington	28,439,655	34,526	0.1%
Wayne	40,230,876	5,373,183	13.4%
Beech Grove	9,271,971	2,645,875	28.5%
Speedway	2,202,088	22,708	1.0%

The Beech Grove school district leads the way with 28.5% of the property tax levy awarded as tax credits, followed closely by the Franklin Township district at 24.5%.

According to the DLGF, any school district that sees its tax cap credits amount to more than 2%, is eligible to apply for a Levy Replacement Grant, which is administered by the Department of Education. The Grant pool appropriated by the General Assembly for this year is $35 million.