Monroe County, Indiana
Estimated Impact of the Proposed
Increase to current School Operating Referendum rate
(Rate proposed to increase from $0.0905 to $0.1850)1
2022 Net Property Tax Liability Inputs
Select Tax District:
Enter 2022 Gross Assessed Value by Property Type:
Primary Residence – Homestead: 1% Cap
Primary Residence – Apply Mortgage Deduction?
Other Residential, Rental, Agricultural, Long-Term Care: 2% Cap
Non-Residential, Commercial, Industrial, Personal: 3% Cap
Please visit the Monroe County Assessor’s website to find your Gross Assessed Value.
This will be located on the Property Record Card.
Or,
From your Annual Tax Statement from the County Treasurer, TABLE 1, Line 1a.
This will be located on the Property Record Card.
Or,
From your Annual Tax Statement from the County Treasurer, TABLE 1, Line 1a.
Estimated 2023 Property Tax Bill
| Total Gross Assessed Value2 | ||
| Less: Homestead Deducation3 | ||
| Less: Supplemental Homestead Deducation3 | ||
| Less: Mortgage Deduction 3 | ||
| Total Net Assessed Value (“NAV”)3 | ||
| Multiplied by: District Tax Rate per $100 of NAV4 | ||
| Gross Property Tax Liability | ||
| Less: Local Property Tax Replacement Credits5 | ||
| Less: Circuit Breaker Tax Credits6 | ||
| Net Property Tax Liability (Annual) | ||
| Net Property Tax Liability (Monthly) |
Estimated Net Change to 2023 Tax Bill Resulting From the
Increase to current certified School Operating Referendum rate of $0.0905
(Budget Year 2022 to Budget Year 2023)1
| Referendum Tax Rate | Annual Referendum Property Tax Liability | Monthly Referendum Property Tax Liability | |
|---|---|---|---|
| Proposed Continued Operating Referendum – 20231: | |||
| Less: Existing Operating Referendum – 20221: | |||
| Estimated Net Change |
Assumptions
- The proposed operating referendum tax rate of $0.1850 would increase the existing operating referendum rate of $0.0905 for eight (8) years, resulting in an estimated annual net tax rate impact of $0.0945 in 2023. The existing operating referendum was originally approved for a rate not to exceed $0.1402 in November 2010 and renewed for a rate not to exceed $0.1150 in November 2016.
- Real property assessments are adjusted annually due to changes in market conditions. Taxpayer liability will change in relation to changes in parcel gross assessed value.
- Homestead parcels are assumed to have homestead, supplemental homestead and mortgage deductions. Assumes no deductions for non-homestead properties.
- Calculations are based upon the pay 2022 certified district tax rates, per the 2022 Monroe County Budget Order, plus the proposed increase in referendum rate of $0.0945.
- Assumes local property tax replacement credits for homestead properties in the amount of 3.2654%, per the Monroe County Auditor’s office. Local property tax replacement credits are not applied to Operating Referendum tax rates, per Indiana Code: 6-3.6-5-6.
- Assumes 1%, 2% and 3% tax caps as applicable.