Northwest Indiana Discussion

According to the assessors office, the taxes on the average $250,000 home in Center Township will increase by about $1,300.00+ for this year.

The proposed $.21 (school tax) + .18 (Fire Territory Tax) + $.04 (Library Tax) = $.43/$100 of assessed valuation.

$.43/$100 X $250,000 house = 1,075 + $200 to $300 estimated general increase by assessor = $1,300.00+ increase in tax bill per house.

According to the assessor, since everyone already takes the exemptions in their present tax bill, the exemptions do not apply as has been suggested by Greg Guerrettaz, financial advisor to Crown Point, who did the financial figures on the fire territory and as has been suggested by the School Corp. PR campaign.

Guerrettaz also did the due-diligence review on the Pasmatronics loan in which he indicated in that due-diligence review of July 18, 2007, that GM was testing the Plasmatronics device at that very time and would commence mass production in 60 days ("September, 2007"). He also stated that Ford would test the device in September, 2007 and begin mass production in October, 2007.

It is correct that there is a $35,000 homestead exemption and a $3,000 mortgage exemption that applies to most homeowners and should be deducted from the market value-based assessment.

The market value of many if not most Crown Point homes has declined by $38,000 or more since the last assessment.

Accordingly, assessed value may be above or below market value depending on the individual case - but market value currently approximates assessed value.

This information is intended to allow voters to make an informed decision with a more accurate idea of the impact of the school referendum on their taxes.

It appears that a .21/$100 school tax will increase tax bills by $420 on a $200,000 home and $630 on a $300,000 home.

If the Unruh figures are correct and the Fire Tax will increase tax rates from $.09 to .27 = .$18 and the Library tax is $.04, then the increase is about $1,300+ on a $250,000