State lawmakers cap Vigo County Schools' property-tax growth at 4.4% for a third year running

What happened

Stifel consultant Chad Blacklock told the oversight board that state lawmakers have again overridden the formula that normally sets how fast Vigo County Schools' operations fund — the property-tax-supported account that pays for transportation, custodians, and building upkeep — can grow: 4% for 2024 and 2025, then 4.4% for 2026. Levy growth capped at 4% for 2024-25, 43:24 2026 cap set at 4.4%, 1:00:23 Blacklock said the formula, based on statewide income growth, would likely have allowed close to 5.5% growth in those years, and district officials estimated the cap's cost to Vigo County Schools at roughly $2 million to $3 million. Formula would have allowed about 5.5%, 44:54 Estimated $2-3 million cost to the district, 46:25

The outcome

No vote was taken on the presentation; the board moved to public comment and adjournment after the briefing. Board moves to adjournment after the presentation, 1:16:41

Sources

• Levy growth capped at 4% for 2024 and 2025, 43:24
• 2026 cap set at 4.4%, 1:00:23
• Formula would have allowed about 5.5% without the cap, 44:54
• District discusses a $2-3 million estimated cap cost, 46:25

Also known as: max levy growth quotient · MLGQ cap · operations fund levy cap · Vigo County Schools property tax growth limit