In Danville, the big debate for the end of 2019 are the two proposed referendums. Referendums are complex and confusing for the majority of the public, including myself. Years ago, voters approved a statewide property tax cap of 1% for residential, 2% on farm/rentals, and 3% on commercial. Since these property tax caps went in place, it has hit school funding hard (depending on the area). A large number of school districts across the state have been putting local tax referendums on the ballot in order to raise additional money to operate, maintain, and provide staff raises. In 2018 Avon Schools passed theirs (after having one fail a few years back), and in 2015 Brownsburg Schools were unsuccessful in passing theirs.

So what does Danville Schools referendum look like? It consists of 2 separate referendums, one smaller tax increase for teacher pay, and a much larger one for maintaining buildings, and updating facilities.

You can find a significant amount of information provided by the school system here:

As far as the opposing views, the biggest issues being voiced are the effect on seniors and those on fixed incomes, the overall size of increase on residents, effects on renters/farmers, citizens questioning the need for many of the proposed school improvements, and more. After Brownsburg's failed 2015 referendum, the school found a way to fund their needs without tax payer increases, so many voters are saying Danville should follow suit.

I'm not here to take sides on the issue, but both sizes have valid points. Be sure to do your research before voting.

What will the referendums effect be on local Real Estate? It's no secret that strong school systems have an impact on home values. Those with kids looking to move into new areas typically look at school systems as a big factor in their decision. If it passes, it will likely benefit homeowners in the long run, but people might be cautious on buying until the new tax bills come out in April 2020. But some home buyers might instead opt to look at other school districts with more reasonable home prices and property taxes.

If it doesn't pass I still see home prices steadily climbing in the coming years. Danville is still very affordable. Avon, Brownsburg, and Plainfield homes are getting more expensive, busier school systems, and more traffic. There will always be home buyers looking for smaller communities, smaller schools, and quiet neighborhoods.

Using the schools calculator here is an example of the increases for a $150,000 property based on if its owner occupied, a rental/farm, or commercial. You can see a much larger tax increase those who's property is not owner occupied.