Indianapolis referendum would redirect about $95M a year to public and charter schools, affecting IPS budgets and homeowner taxes
Voters in Indianapolis will decide Nov. 3 whether an operating property-tax referendum that could raise up to $95 million annually will replace an expiring levy and be shared between Indianapolis Public Schools and participating charter schools. The measure would raise homeowner bills and change how city school revenue is allocated.
The referendum on the Nov. 3 ballot would allow the Indianapolis Public Education Corporation to impose a rate not to exceed $0.372 per $100 of assessed value, yielding up to $95 million annually for staff, programming and services. The four-year levy would replace IPS’ expiring 2018 referendum. Ballot language estimates a $221 annual increase for a $150,000 home, and IPEC plans a public spending tracker for the funds.
State law creating IPEC requires splitting referendum revenue roughly between IPS and about 60 participating charter schools, with charters’ shares based on resident enrollment. IPEC’s spending plan allocates about $63 million for programming, including services for students with disabilities and English learners, and about $32 million for staff retention and professional development. IPS officials report a $24 million special-education shortfall and say the district still anticipates roughly $20 million in cuts even if the referendum passes; failure could trigger $40–$45 million in deeper cuts and possible state intervention.
BusinessIndy examines this development and its implications for Indiana businesses and communities using the linked sources.
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