What the HSE referendum would do to your property tax bill

SEA 1 deductions. For a homestead, the $48,000 standard deduction shrinks each year and the supplemental deduction grows, per the schedule certified by the Indiana DLGF. Taxable value = (gross AV − standard deduction) × (1 − supplemental %). Non‑homestead residential (2% cap) property gets SEA 1's smaller new deduction, phasing from 6% to 33.4%.

Pay year	Standard deduction	Supplemental	Ref. rate if it fails	Ref. rate if it passes

Tax caps and credit. Non‑referendum taxes are capped at 1% of gross AV (2% for non‑homestead residential). Referendum taxes sit outside the cap. SEA 1 then subtracts a homestead credit of 10% of the non‑referendum bill, up to $300; by law the credit does not apply to referendum taxes.

Referendum rates. The year‑by‑year rates (22¢ in 2027 rising to 33.99¢ in 2034) are the projections built into the district's own referendum calculator; the ballot maximum is 36¢, which the district says it does not expect to levy. The board sets the actual rate annually and can go lower (not higher) than the maximum. If the referendum fails, the current 19.95¢ rate continues through 2031 and then expires. HSE also has a separate 8.9¢ referendum debt rate (for buildings) that is unaffected by this vote and is included in both scenarios.

Old‑law line. What the bill would have been had SEA 1 never passed: $48,000 standard deduction, 35% supplemental deduction (25% on value above $600,000), no credit, and the existing 19.95¢ referendum renewed at its current rate.

Validation status. The shared deduction and ballot-rounding rules have automated checks. District projections and total-bill assumptions remain subject to source review; matching a ballot example does not validate a future total bill.

Not modeled. Changes to the county, city, township or library rates; the over‑65 and disabled‑veteran credits; property‑specific abatements; and any future reassessment beyond the growth option above.