Carmel Clay Schools plans higher 2027 property tax rate, lowers referendum rate if approved
Carmel Clay Schools expects to set its 2027 property tax rate at 64.56 cents (up 4.31 cents from 2026) to collect a proposed $78.5 million levy, while dropping its referendum tax rate from 31.94 to 30.39 cents if voters approve the Nov. 3, 2026 referendum; failure would force about $10 million in cuts and roughly 10% of staff reductions.
Carmel Clay Schools (CCS) is revising its projected 2027 tax rates as it prepares next year’s budget. The district plans a proposed levy of $78.5 million for 2027 (the combined operations and debt service levy was $74.5 million in 2026) and says it expects to set the 2027 property tax rate at 64.56 cents — 4.31 cents higher than the 2026 rate — to collect that levy under changes from SEA1, district spokeswoman Emily Bauer said.
CCS says the 2027 levy will be reduced by about $3.5 million because of property tax credits. Because the district’s net assessed value (NAV) is lower under SEA1, the district reports a higher tax rate is required to generate the same levy and that this effect is likely to continue.
BusinessIndy examines this development and its implications for Indiana businesses and communities using the linked sources.
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