School City of Hobart District Seal

School City of Hobart

Lake County, Indiana

The locally elected Board of School Trustees of the School City of Hobart is asking for your support for additional investments in our community. These investments are designed to make the necessary improvements in our school facilities so that the quality of educational opportunities for our young people is enhanced.  These investments will improve the quality of life in our community and will help protect your property values.

Estimated Impact of the Proposed School Construction Referendum

Terry D. Butler, Board PresidentKaren Robbins, Board Member
Rikki Guthrie, Board Vice PresidentDonald H. Rogers, Board Member
Michael J. Rogers, Board SecretaryMichael J. Rogers, Board Secretary
Dave Bigler, Board Member
Dr. Peggy Buffington, Superintendent






 Est. Maximum Next Change in
Debt Service Tax Liability
(change from actual 2016 to est. 2019)
How to find your Gross Assessed Value:
  1. Visit the Lake County Assessor's
    website and look for your Property
    Record Card.

    http://in-lake-treasurer2.governmax.com/
  2. Refer to your Annual Tax Statement
    from the County Treasurer, Table 1
    Line 1a.
Est. Net Change in Debt Service
Tax Liability Due to 2019 Scheduled
Circuit Breaker Exempt Debt Roll Off
(change from actual 2016 to est. 2020)

Estimate Tax Rate Impact of the Proposed School Construction Referendum

>
DescriptionExistingWith Referenda
2016 Debt Service Tax Rate1.23631.2363
Est. Decrease In Rate Due To Refunding0.2754
  Est. 2019 Debt Service Tax Rate0.9609
Est. Increase From New Project0.2754
Est. New Tax Rate from New Project1.2363
Est. Next Change To Debt Service Date Due
  to Construction Referenda0.0000
Proposed Referenda Tax Rate To Be Seen
  On The Ballot (starts 2030, after all
  existing debt has been retired)0.8000

Notes:
  1. This results of this calculator will differ from the calculator found on the Indiana Department of Local Government Finance's ("DLGF") web page. The DLGF's calculator will only present the maximum rate of $0.80, without accounting for the 2020 roll off of exempt debt. The above calculator attempts to present the complete picture; reflecting the reduction of future debt due to the prior bond refunding, the repayment of existing debt and the impact of the 2020 roll off of exempt debt
  2. The total tax rate includes tax rates of other taxing districts in addition to the school corporation. The referenda liability will change in relation to changes with other overlapping and underlying tax district changes.
  3. Real property assessments are adjusted annually due to changes in market conditions. The referenda liability will change in relation to changes in parcel gross assessed values.
  4. Homestead parcels are assumed to have homestead, supplemental homestead and mortgage deductions.
  5. For simplicity, local income tax property tax credits and/or over 65 credits have NOT been included in the tax calculator estimate and your actual tax bill may be less than what is estimated here.
  6. The Maximum Net Change In Combined Debt Service Tax Liability represents the estimated change in 2019 vs. the actual liability in 2016, when the repayment of debt is to begin (upper right of calculator).
  7. The tax liability related to when circuit breaker exempt debt is scheduled to roll off, as dictated by State law, represents the estimated impact in 2020 vs. the actual liability in 2016 (lower right of calculator). The change is due to more parcels reaching circuit breaker protection due to reduced circuit breaker exempt debt.
  8. The tax liability is based on an estimated 18.5 year bond issue with reduced payments in years 2019 through 2029. The payments would then be increased to their maximum in year 2030 and thereafter (the $0.80 increase that will appear in the referenda question is based on the maximum payment in 2030). The school corporation refinanced a prior bond issue in 2016 providing a reduction in required debt service through 2027. This reduction allows the proposed new debt to be added with no increase to the estimated Debt Service Tax rate from 2019 to 2027. Prior bond issues will be paid off in 2027 and 2029, resulting in a reduction in Debt Service Tax rates below current levels .
Gross Assessed Value [GAV]0.00
Homestead 6% [HS6]0.00
Homestead Standard [HSS]0.00
Homestead Deduction [HSD]0.00
Homestead Deduction Accessed Value[DAV]0.00
Homestead Deduction AV <600,000 Extra 35% [Tax35]0.00
Homestead Deduction AV >=600,000 Extra 25% [Tax35]0.00
Homestead Mortgage Exemption [MTGD]0.00
Net Accessed Value All Deductions [NAV]0.00
Gross Tax Rate Gross >=2020 [TRG]0.00
Circuit Breaker Tax Rate (HS=.01, noHS=.02) [TRCB]0.00
Circuit Breaker [CB]0.00
 
Exempt Tax Rate <2020 [TRET1]0.00
Exempt Tax <2020 [ET1]0.00
Gross Tax Rate <2020 [TGR1]0.00
Gross Tax <2020 [GT1]0.00
Tax Cap <2020 [TC1]0.00
Actual Tax <2020 [AT1]0.00
 
Exempt Tax Rate >=2020 [TRET2]0.00
Exempt Tax >=2020 [ET2]0.00
Gross Tax Rate <2020 [TGR3]0.00
Gross Tax >=2020 [GT2]0.00
Tax Cap >=2020 [TC2]0.00
Actual Tax >=2020 [AT2]0.00
 
Tax change Annual <2020 to >=2020 [TC3]0.00
Tax change Monthly <2020 to >=2020 [TC3m]0.00