Five years from now
The initial budget for the new city of Greenwood would see the unincorporated White River Township average resident’s property taxes increase 18%. White River Board Chair Mark Messick stated that if that is the final number the measure will never pass the board. He thought 10% might be acceptable to the residents. OK so let’s say a 10% increase the first year is acceptable.
Why isn’t anyone talking about next year, or five years from now? What will the city budget look like at that time? Haven’t they looked that far or don’t they want you to know? Actually I believe that this all volunteer committee has done a lot of work to put together the first year projections they appear to be fairly solid and conservative estimates. But what’s next?
Here is what we do know. Bargersville has already won the court battle to annex the commercial corridor up State Road 135. That revenue was included in the initial estimates. Those estimates will be revised in time for the final plan presentation on Monday night. Will that make a big change in the numbers, not for next year. We also know that Bargersville has annexed 13 square miles of the southern portion of the township. That annexation is set to go into effect January 2, 2010. However the current reorganization plans assumes that annexation won’t happen. Not too likely. That area is about 4% of the assessed value of the property in unincorporated White River Township. Will that make a big change in the numbers, not for next year.
What will the finances look like five years from now? The State Road 135 corridor will be commercial; there are plans for offices, hospitals, retail and residential. Only the residential development isn’t attractive to government seeking money. The real money is in businesses, that future revenue is gone.
Move west and we see that Bargersville now controls all of 144 out to State Road 37 and then three miles north to Stones Crossing. With or without I-69 there is not doubt that is going to be a growth area for businesses and the money will flow to Bargersville, not the new Greenwood.
What’s left? All you have is State Road 37 from Stones Crossing to County Line Road, just four miles of potential business development. There might be some room for businesses along Smith Valley Road but that pretty much is it. The rest of the township will fill up with residential neighborhoods that have their property taxes capped at 1%.
Where does the money come from for a $12 million Greenwood city building, parks, parks, and more parks, pathways, street repair, a new airport, $75 million to expand Worthville Road, additional city employees to measure weed height and enforce codes and all the “other stuff” a city thinks it needs to govern? If you think property tax caps protect you, you had better think again. The state legislature is already planning to look at allowing communities, such as the “new” Greenwood, to institute local income taxes.
The plan can be put together with one year budget projections, and it can even be passed by both the White River Township Board and the Greenwood Common Council, but before the citizens vote on the proposal on May 10 there needs to be a look at our financial future five years down the road, and beyond, or the Reorganization Plan is already at a dead end.
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