Referendum - FAQ

  1. Why is Twin Lakes School Corporation pursuing an operating referendum?

  • Declining enrollment is having a negative impact on TLSC budget

Declining Student Enrollment Graph

  • This reduction in funds makes it very difficult for the school district to offer competitive compensation for teachers and support staff.

Teacher Compensation - 20 Years

Teacher Compensation - 20 Years

  1. What is the referendum going to cost property owners?

    • The cost of the referendum will vary depending on the assessed value of your property. Please use our Property Tax Investment Calculator to learn what the November 5th referendum will cost your household. Remember, the referendum rate of $.25 per $100 of assessed value only applies to the school tax levy portion of your property tax bill.

3. How is the referendum calculated on farmland?

  • The State of Indiana currently assesses farmland using a base rate calculated by the Indiana Department of Local Government Finance (DLGF).  The base rate is updated on a yearly basis.  For taxes payable in 2024, the base rate was set at $1,900 per acre.  For taxes payable in 2025, the base rate is being increased to $2,280 per acre. Unlike property taxes paid on homesteads, there are no additional deductions for taxes paid on farmland. To calculate the potential impact of the operating referendum on farmland for taxes payable in 2025, the calculation is the base rate ($2,280), multiplied by the amount of the operating referendum ($0.2500), multiplied by the number of acres owned, and then divided by $100 (taxes are paid per $100 of taxable value).For example, a taxpayer who owns 100 acres would see a $570 impact for taxes payable in 2025.  $2,280 x $0.2500 x 100 acres / $100. For more information of the farmland base rate, please visit https://www.in.gov/dlgf/assessments/agricultural-land-assessments/

4. Who initiated the referendum?

  • On June 18, 2024, the TLSC School Board voted unanimously to pursue an operating referendum.

5. How will funds generated from the referendum be spent?

Revenue spending plan

6. How can the school district afford to do projects like put turf on the football field but not increase teachers' salaries?

  • The majority of the school district's finances is divided into three funds, each designated for specific purposes as directed by the State of Indiana. Construction projects, such as installing new turf, are paid by the Debt Service Fund. In contrast, teachers' salaries and benefits are funded through the Education Fund. These funds cannot be interchanged.

7. How can I learn more about the November 5th referendum?