Dear Editor:
There seem to be some questions about how much the Noblesville Schools referendum proposal will cost taxpayers, and I wanted to provide some clarification for the community as I have seen individuals and news outlets throwing out different figures.
The referendum rate is an annual rate applied to every $100 of a home or business’s net assessed value.
The current referendum rate is 18.9 cents and the new proposed rate is 37 cents.
When calculating what this means for your taxes specifically, it’s important to know that 86.4 percent of Noblesville homeowners receive property tax deductions. Doing a simple math calculation on your property value without taking into account the deductions most people receive will provide many with inaccurate information.
For example, most homeowners with $100,000 worth of property receive a $45,000 credit for homestead deduction, a $19,250 supplemental deduction and a $3,000 mortgage deduction.
This means that $100,000 property has a net assessed value of $32,750. That property is already paying $61.90/year at 18.9 cents for the 2016 referendum and would pay $121.18/year for the 37 cents 2018 referendum – an increase of $59.28/year.
If approved, the 2018 referendum will replace the 2016 referendum, not be in addition to it. And if the 2018 referendum is not approved, the 2016 referendum will continue until it expires in 2023.
Property owners with questions about how much the referendum would cost them can feel free to use the milleryes.org tax calculator, contact the Hamilton County Assessor’s office or reach out to me directly.
For more information about how current referendum funds are being spent and why the district is asking for additional funding, please visit noblesvilleschools.org.
Robin Phelps
Chief Financial Officer
Noblesville Schools