NEW HAVEN – Faced with an estimated $4.2 million tax cap loss, East Allen County Schools is preparing a tighter budget for next year and is bracing for more financial challenges with the implementation of Indiana's new property tax reform law, the school board was told Tuesday.

Chief Financial Officer Pat McCann described the anticipated funding hit as huge. It represents 19% of the advertised operations fund levy, which supports the part of the budget for items not directly tied to instruction.

"It's the most severe loss of funding that I've experienced," said McCann, who has been in his role since 2021.

The tax cap loss totaled about $1.6 million this year and less than $1 million in each of the three previous years.

The estimate by the Department of Local Government Finance, a state

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