Note: the school board tells me 19.3% is wrong, so I have to figure that out. The figures in the table are all drawn from the superintendent’s Powerpoint of 4/19/2016.

In the past 6 years, with the economy stagnant and inflation extremely low (this year’s inflation cap was 0.12%), IUFSD taxes have risen 19.3%.

For a 19.3% increase to be sustainable, we need taxpayers whose incomes are also rising at that rate.

That’s the issue: not the salaries and benefits we pay, but the rate of increase in those salaries. 

YEAR……. BUDGET % BUDGET INCREASE YEAR-TO-YEAR TAX RATE PER MILLION ($ PER MILLION) % INCREASE IN TAX RATE
2011-12 $50,324,892 0.91% $592.19 3.54%
2012-13 $51,156,000 1.65% $613.84 3.66%
2013-14 $54,070,000 5.70% $645.81 5.21%
2014-15 $56,294,000 4.11% $665.35 3.03%
2015-16 $57,664,000 2.43% $690.14 3.73%
2016-17 $58,688,325 1.15% $698.78 1.25%
 
TOTAL % INCREASE IN TAX RATE: 18.0%

SOURCE: 04 19 16 2016-17 Budget Development Presentation Budget Adoption v4 final

AND SEE: Schools’ property-tax cap for coming year: 0.12% by Joseph Spector, Albany Bureau Chief 5:09 p.m. EST January 20, 2016