Noblesville Schools lowers referendum rate & launches new tax levy calculator

Submitted by Noblesville Schools

Noblesville Schools announced Wednesday, Aug. 12, that it is lowering the referendum rate that would be in use for 2027 should the current referendum ballot proposal be supported by voters this fall.

The district is committing to a 38.5-cent rate for 2027 and to lower rates than originally projected for the remaining life of the referendum. The current referendum rate, which expires at the end of 2026, is 37 cents. The rate is still projected to increase in small increments until 2031 to continue adequate funding.

These updates bring the new average annual monthly increase over eight years (for a $350,000 median home) to $1.88 more per month than what residents are paying currently.

Hile

“We just received the latest certified assessed value updates for Noblesville and are pleased to be able to lower the rate for 2027, and lower our projected rates for future years, based on that new information,” Superintendent Dr. Dan Hile said. “Because our current referendum will automatically expire at the end of 2026, this referendum continuation proposal is about maintaining existing staff and services. We are committed to doing that as cost effectively as possible for our taxpayers. Under this new rate, some homeowners may even see a decrease from what they are paying currently.”

While the ballot language reads that the district is asking for a maximum of 57 cents per $100 of assessed value, the district’s updated plan would now avoid hitting the 57-cent mark at any time.

“Unfortunately, the required referendum timeline meant that we had to certify an official rate for the ballot before we received the latest updates that just came in,” Hile said. “We will not use more than we need and we do not expect to need the full 57 cents at any point now. Our board will vote publicly on a budget rate every year and we expect the community to hold us accountable.”

The district has launched a calculator to help community members understand what all this means for them. The calculator shows taxpayers how much they are paying for the current 2018 referendum and how much they would pay over the life of the proposed 2026 referendum, including growth in property values and referendum rates over time.

“We know that people are of course concerned about how much this will cost them personally,” Hile said. “This calculator lays out all the details for everyone to make their own informed decisions.”

Hile is hosting community information meetings and open office hours in the coming weeks so residents can learn more and get answers to their questions. The meeting list, calculator, and answers to frequently asked questions can all be found on the district’s website at noblesvilleschools.org/referendum.

“We’re working hard to cut costs and protect homeowners from significant increases, while maintaining outstanding educational opportunities for the children we serve,” Hile said. “I encourage residents to run their numbers in the calculator and attend a meeting or visit our website to learn more. This is a big decision for our community and we want everyone to have the facts.”