Carmel Clay Schools seeks referendum to raise property tax rate to offset $15M annual state funding loss
Carmel Clay Schools will ask voters in November to approve an eight-year referendum that would combine its operating and safety levies and raise the maximum rate from 24 cents to 42.74 cents per $100 assessed value to recoup an average $15 million a year lost under 2025’s SEA1. District leaders warn a failed measure would force deep budget and staff cuts in 2027.
The proposal would replace the district’s current operating and safety referendums with a single eight-year levy that phases in over several years. The ballot lists a maximum rate of $0.4274 per $100 of assessed value and a maximum annual amount of $61,981,519; CCS projects a 31.94-cent rate in 2027 and the 42.74-cent cap four years later. Officials say an owner of a $482,000 home would pay about $15.79 more per month in 2027, while the ballot language cites a $1,062 annual increase for a $500,000 home.
Carmel administrators attribute the request to revenue reductions from Senate Enrolled Act 1 and estimate an average loss of $15 million per year over the next eight years. Superintendent Thomas Oestreich and other officials say a failed referendum would require roughly $10 million in cuts in 2027 and expect about a 10% reduction in staff—about 197 positions described by the district (including 115 teachers). The question goes before voters in November.
BusinessIndy examines this development and its implications for Indiana businesses and communities using the linked sources.
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