Noblesville School Board commits to lower, incremental referendum rates

Submitted by Noblesville Schools

The Noblesville Schools Board of Trustees has formally committed to a lower than projected referendum rate for 2027, and a slow progression of increases, should the current referendum proposal be supported by voters this fall.

The board signed an official resolution at their meeting Tuesday night committing to a 38.5-cent rate for 2027 and a slow progression of no more than 4-cent annual increases during the referendum period.

Under this model, the average annual monthly increase over eight years (for a $350,000 median home) is $1.88 more per month than what residents are paying currently.

Crosser

“We wanted to clarify our commitment to the public in writing,” said Christi Crosser, president of the Noblesville Schools Board of Trustees. “If the referendum is approved, we will not use more than what we need and do not believe we will need the maximum 57 cents at any time during the referendum period. The referendum rate would increase by 1.5 cents in 2027, and after that would not increase by more than 4 cents in any given year. This ensures we continue to adequately fund our schools without any big jumps in costs for our taxpayers.”

The state requires school districts to list a maximum referendum rate on the ballot and for Noblesville Schools it will show 57 cents as the maximum rate.

“That number was really a worst-case scenario we had to go with months ago based on the information we had at that time,” Crosser said. “We’re pleased to have been able to lower our projected rates based on the latest assessed value information that we received earlier this month.”

The district is seeking an increased rate due to recent SEA1 property tax legislation that reduced funding for schools. The district must increase the referendum rate to continue to receive a comparable amount of money. But, thanks to SEA1 property tax deductions for homeowners, this does not mean a large increase for taxpayers.

“The ballot language is misleading in a sense because it implies there will be a big increase for taxpayers,” Crosser said. “Since we’re not using the full 57-cent amount, the actual increase over what people have been paying already is very small.”

The district recently introduced a calculator for residents to learn exactly what 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.

Residents can also attend community information meetings and open office hours in the coming weeks to learn more about the referendum and get answers to their questions.

The calculator, meeting list, board commitment and answers to frequently asked questions can all be found on the district’s website at noblesvilleschools.org/referendum.