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LONG

BEACH CAPITAL FUND FACT SHEET


WHAT IS THE CURRENT FUNDING TAX RATE FOR THE TOWN OF LONG BEACH CAPITAL
IMPROVEMENTS?
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Currently generates annual revenue of $26,500 (this is a paltry amount given a town our
size and the improvements needed) .
The Town Council is seeking to increase the Long Beach rate from $ .006 to. $0.03.
Long Beachs current rate is among the lowest in the State of Indiana (vast majority of
municipalities in Indiana tax at the max of $0.05 per $100 of Assessed Value) and the
Town Council is seeking to go only to 3 cents not 5 cents per $100 of assessed value

WHAT WILL RAISING THE RATE TO THREE CENTS PROVIDE THE TOWN?
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Increase will generate total Cumulative Capital Development Revenue of approximately


$132,400 per annum, representing an annual net increase of $105,900 from current
revenue of approximately $26,500
No impact on properties already taxed at cap of 1% and 2% of Assessed Value
No impact on properties in Michigan City Sanitary District (e.g., Long Beach Cove)

HOW WILL THIS AFFECT YOUR CURRENT TAX BILL?

Estimate by Cender and Co. indicates impact on individual property owners as follows:
o For properties receiving homestead exemption:
$100,000 Assessed Value = $10/year net increase ($0.83/month)
$200,000 Assessed Value = $25/year net increase ($2.08/month)
$267,000 Assessed Value = $35/year net increase ($2.92/month)
o For properties NOT receiving homestead exemption:
$100,000 Assessed Value = $25/year net increase ($2.08/month)
$200,000 Assessed Value = $50/year net increase ($4.17/month)
$300,000 Assessed Value = $75/year net increase ($6.25/month)
$400,000 Assessed Value = $100/year net increase ($8.33/month)
$500,000 Assessed Value = $125/year net increase ($10.42/month)
$1,000,000 Assessed Value = $250/year net increase ($20.83/month)

WHAT IS THE TOWN PLANNING TO DO WITH THE FUNDS RASIED?

The town is in dire need of many improvements. These improvements will likely raise your
property values more that the tax itself. The town needs to make major renovations to the
Community Center, including a roof and HVAC. The town needs to make improvements to the
Stop 24 Pump House and Stop that will greatly beautify what is currently a town eyesore.
Improve streetscapes with new street signs and more efficient and less expensive street lighting.
Other possible uses include purchase of new Leaf Machine, new front loader for Street
Department and new fire truck for the Fire Department.

Additional information can be found at the town web site www.longbeachin.or

PLAN ON ATTENDING THE SEPT. 7TH STATE HEARING AT 10AM IN THE


COMMUNITY CENTER. CITIZENS OPPOSING THE INCREASE DEMANDED THIS
MEETING. THEY WILL BE THERE IN LARGE NUMBERS TO PROTEST!