Lafayette Township Fire Protection District

Floyds Knobs, IN

PROPERTY TAX CLARIFICATION FOR LAFAYETTE TOWNSHIP PROPERTY OWNERS AFTER MISINFORMATION

 Ryan Houchen    May 6, 2020    No Comments

Property tax billing statements for May payment have been recently distributed to Floyd County residents by the Floyd County Treasurer.

The tax rate is the total of the various entities tax rates in the county combined to make up the total tax rate for each Township (Taxing District).

We have been made aware of some misinformation being posted on social media and talked about amongst members of the community regarding tax increases, tax breakdowns/bills, school tax, and special district.

The first clarification is the “Special District” for Lafayette Township residents is the Fire Protection District which is not “New” and has been in effect and on the tax bill as “Special District” for 13 years.

The second clarification is regarding tax rates. The entities tax rates are established through an annual budget process and set by the Indiana Department of Local Government Finance which is the final authority. For Lafayette Township property owners, they are as follows:

 

TAXING ENTITY FUND2020
Floyd County General Fund0.2143
Floyd County 2015 Reassess Fund0.0067
Floyd County Cumulative Bridge Fund0.0133
Floyd County Health Fund0.0173
Floyd County Parks & Recreation Fund0.0185
TOTAL FLOYD COUNTY ENTITY FUNDS0.2701
Lafayette Township General Fund0.0034
Lafayette Township Assistance Fund0.0026
TOTAL LAFAYETTE TWP ENTITY FUNDS0.006
Lafayette Township Fire Protection District Special Fire Debt Service Fund0.0406
Lafayette Township Fire Protection District Special Fire General Fund0.1534
Lafayette Township Fire Protection District Special Cumulative Fire Fund0.0333
TOTAL LAFAYETTE TWP FIRE PROTECTION DISTRICT ENTITY FUNDS0.2273
Floyd County Public Library General Fund0.0678
TOTAL FC PUBLIC LIBRARY ENTITY FUNDS0.0678
New Albany-Floyd County Consolidated School Corporation Debt Service Fund0.2776
New Albany-Floyd County Consolidated School Corporation Ref Debt Post09 Fund0.1573
New Albany-Floyd County Consolidated School Corporation Operations Fund0.5435
TOTAL NAFCS ENTITY FUNDS0.9784
TOTAL FOR ALL ENTITY FUNDS FOR LAFAYETTE TOWNSHIP PROPERTY OWNERS1.5496

The overall county tax rate for Lafayette Township was reduced from 1.5511 in 2019 to 1.5496 in 2020. Floyd County is on a 4-year reassessment cycle meaning ¼ (one quarter) of the properties within Floyd County get assessed every 4 years. The Floyd County Assessor is responsible for completing these duties. The last assessment of 15,083 parcels was completed in portions of Greenville Township and Georgetown Township with the average annual adjustment of a 21% increase based on market evidence. The next assessment will be done this year for portions of Lafayette Township and Greenville Township. 

There is also an Annual Adjustment that all areas receive that were not in the ¼ of the county that was assessed. This is based on the assessment on file, cost schedules (Set by the State of Indiana), Valid Sales Transactions, and Location Cost modifiers (LCM). This adjustment can vary from property to property.

If you experienced an increase in your tax bill this is due to an increased assessed value due to a recent assessment of your property, a loss of an exemption, or the annual adjustment. In Indiana, your assessed value should reflect the market value you would expect to sell your home or property for. If you feel your property is assessed for more than it should be (estimated market value) or if there are mistakes, there is an Appeal Process (https://www.in.gov/dlgf/2508.htm)

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Lafayette Township Fire Protection District
P.O. Box 51
Floyds Knobs, IN 47119

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