GRIFFITH PUBLIC SCHOOLS


Lake County, Indiana

Illustrative Impact of the Proposed School Operating Referendum of $0.32941 on Property Tax Bills in 2023

Net Property Tax Liability Inputs

Enter 2021 Gross Assessed Value by Property Type:2



Primary Residence - Homestead: 1% Cap3
Primary Residence - Apply Mortgage Deduction?3
Other Residential, Rental, Agricultural, Long-Term Care: 2% Cap
Non-Residential, Commercial, Industrial, Personal: 3% Cap
Please visit the Lake County Assessor's website to find your Gross Assessed Value.
This will be located on the Property Record Card.
Or,
Find it on your Annual Tax Statement from the County Treasurer, TABLE 1, Line 1a, 1b, and 1c.



ILLUSTRATIVE PROPERTY TAX BILLS

Estimated 2021 Illustrative 2023 Illustrative Change
Total Gross Assessed Value2      
0
  
 Less: Homestead Deducation3      
0
  
 Less: Supplemental Homestead Deducation3      
0
  
 Less: Mortgage Deduction 3      
0
  
  Total Net Assessed Value ("NAV")3         
  Multiplied by: District Tax Rate per $100 of NAV6
3.1051
  
3.4345
  
0.3294
   Gross Property Tax Liability6         
   Less: Local Property Tax Replacement Credits4      
0
  
   Less: Circuit Breaker Tax Credits5      
0
  
    Net Property Tax Liability (Annual)6         
    Net Property Tax Liability (Monthly)6         
 
                                        Investment in Griffith's Future 2021 to 2023 (Annual)   
                                        Investment in Griffith's Future 2021 to 2023 (Monthly)   

Assumptions

  1. The proposed operating referendum tax rate of $0.3294 is for the purpose of funding the Griffith School Property Tax Levy Plan which will include safety & security, retaining and attracting teachers and staff and academic programming which will expand student educational and career opportunities.
  2. Real property assessments are adjusted annually due to changes in market conditions. Taxpayer liability will change in relation to changes in parcel gross assessed value.
  3. Homestead parcels are assumed to have the homestead deduction, supplemental homestead deduction, and if selected, the mortgage deductions. Assumes no deductions for non-homestead properties.
  4. Includes PTRC of 16.3121% for all properties, per the Lake County Auditor's Office. Local property tax replacement credits are not applied to operating referendum tax rates, per Indiana Code 6-3.6-5-6.
  5. Assumes 1%, 2% and 3% tax caps as applicable.
  6. Calculations and tax rates are based on pay 2021 certified district tax rate per the Lake County Budget Order.
For illustrative purposes only. Actual results may vary.
Prepared by Baker Tilly Municipal Advisors, LLC