horizontal-nav FIXED

horizontal-nav

Financial Transparency

Capital Projects Planning
Capital Project Planning Presentation

During the October 14 School Board Workshop, the Board of Trustees heard from partners at Skillman and Bakertilly Municipal Advisors for an in-depth discussion on Capital Project Planning.

Learn More about Capital Project Planning Presentation

Financial Reports

Understanding Your Contribution

When you pay taxes, your property’s net assessed value is its taxable value after deductions and exemptions are subtracted from the gross assessed value. The tax rate is the figure that determines how much you pay — some rates are fixed (like referendums you vote on), others fluctuate. The tax levy represents the total dollars allocated to a local government, including school districts.

Now, let’s dive into the average homeowner’s net assessed value in Carmel to see how these pieces work together.

Home Value (Median home value, per US Census Bureau)

$455,600

Less: Standard Deduction

($48,000)

Less: Supplemental Homestead

($152,850)

Net Assessed Value (Taxable Value)

$254,750
Credit* Lesser of $300 or 10% of net property tax bill.

Operating Referendum = $0.19 per $100 of Net Assessed Value until 2031
School Safety Referendum = $0.05 per $100 of Net Assessed Value until 2027

*The new Homestead Credit, a result of SEA1 which directly affects school funding, will lead to an annual reduction of $2.9 million for Carmel Clay Schools in 2026.