Kokomo Tribune; Kokomo, Indiana

Local News

August 14, 2011

Property tax caps mean less maintenance money

Eastern approves advertising its 2012 budget.

Greentown — Property tax caps mean less money to maintain buildings for Indiana’s schools.

Eastern Superintendent Tracy Caddell said his corporation’s capital project fund is its “most distressed fund,” with little money available to maintain buildings.

Caddell and corporation treasurer Teresa Vester presented the proposed 2012 budget to school board members during Tuesday’s meeting. The general fund money mostly comes from the state, based on enrollment, Vester said. However, the capital projects fund, debt service fund, pension debt fund, transportation operations and bus replacement funds are all funded through property taxes.

The debt service and pension debt funds don’t have room for reductions, so the capital projects fund takes the biggest hit if property owners hit the maximum tax rate they can pay based on the assessed value of the home. Anything over that amount is lost by the local taxing units, Caddell said.

The capital projects fund pays for building maintenance, classroom equipment and technology costs, and can be used to supplement costs for utilities. Caddell said after technology and other costs are taken out of capital projects, there is about $219,000 left for building maintenance.

“There’s not enough there to maintain the buildings. The property tax caps have severely impacted capital projects,” he said. Caddell said with the country’s economic troubles, assessed valuations of homes have decreased, which then lowers the property tax cap.

There is no way under current state law to recoup any of the losses, he said. He’s written letters to area legislators, he said, “not that it will do any good in this political climate.”

The board approved advertising the corporation’s 2012 budget of $8,987,369 in the general fund, $2,443,516 in debt service, $1,116,002 in capital projects, $95,925 in pension bond debt, $781,739 in transportation operations and $277,667 in bus replacement. Caddell said property tax funds are advertised high, so if the assessed valuation comes in lower than anticipated, the corporation will still get the money it needs in those funds.

Text Only | Photo Reprints
Local News
  • Miami County struggles through computer shutdown PERU (AP) — A northern Indiana prosecutor has harshly criticized other officials in his county for not adequately dealing with computer problems that have effectively brought some business to a halt. Prosecutor Bruce Embrey said Miami County governme

    August 1, 2014

  • Waterford Place looks to 11 senior living duplexes to campus More senior living options could be on the way in Kokomo.Waterford Place Health Campus, located in the 800 block of St. Joseph Drive, is looking to expand with 11 new senior duplexes after receiving approval from the Kokomo Plan Commission’s plat com

    August 1, 2014

  • Trial dates moved in Wagoner clinic drug case Trial dates for seven of the eight people charged in the Wagoner Clinic prescription drug case have been moved to Oct. 3.Several of the suspects – including Marilyn Wagoner, the wife of Donald Wagoner, the former head of the clinics – were set to sta

    August 1, 2014

  • NWS - Summer Fest 02 Russiaville Summer Fest starts Friday RUSSIAVILLE — You think you can knock a baseball out of the park? There's a contest for that. If you love to sing, there's an activity for that. If you're afraid to sing but know the words to your favorite song, there's an activity for that, too. The

    July 31, 2014 2 Photos

  • July 2014 has been the coldest on record Veteran Indiana residents are familiar with the old adage as it pertains to weather: "Hang out, it's sure to change." And, change it has. Just 24 months removed from the hottest July on record in 2012, the National Weather Service announced late Thur

    July 31, 2014

  • One injured in motorcycle crash A 50-year-old man suffered chest injuries when he crashed his motorcycle at Washington and Lafountain streets Wednesday afternoon. A Kokomo Police Department accident report stated Tommie Barger of Kokomo was driving a 1983 Honda 1100 south on Lafoun

    July 31, 2014

  • BMV offering driver tests in 11 languages INDIANAPOLIS (AP) — The Indiana Bureau of Motor Vehicles is now offering drivers tests in 11 languages other than English that are spoken across Indiana. BMV Commissioner Don Snemis said Wednesday the decision was made at the urging of businesses, un

    July 31, 2014

  • Tionna Brown 02 Kokomo celebrates Tionna Brown's gold medal victories Little boys with pretend gold medals around their necks fought Wednesday to get their pictures taken with a pint-sized superstar who had won three real gold medals for herself. Twelve-year-old Tionna Brown just returned from Texas after competing in

    July 31, 2014 2 Photos

  • KFD Rescue 2 Staffing changes leave Kokomo Fire Department with one rescue truck

    A shift in how the Kokomo Fire Department is staffed and responds to calls has some firefighters worried they will not have access to all the equipment they need. City officials, however, maintain there will be no change in the quality of service pro

    July 30, 2014 2 Photos

  • Kokomo Police officers reach out to public Tuesday Kokomo police will be out in full force Tuesday in area neighborhoods. In addition to their regular patrols, officers will be out getting to know residents and the issues they may have as part of National Night Out, a crime prevention event. National

    July 30, 2014

Latest news
Featured Ads
Only on our website
AP Video
Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Rescuers at Taiwan Explosion Scene Raw: Woman Who Faced Death Over Faith in N.H. Clinton Before 9-11: Could Have Killed Bin Laden Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction Malaysian PM: Stop Fighting in Ukraine Cantor Warns of Instability, Terror in Farewell Ravens' Ray Rice: 'I Made a Huge Mistake' Florida Panther Rebound Upsets Ranchers Small Plane Crash in San Diego Parking Lot Busy Franco's Not Afraid of Overexposure Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.