Editor,
All of the articles I have seen in Current in the past few months regarding the Carmel Clay Schools operating referendum have been pro-referendum. I would like to provide some information to consider when voting.
The following numbers were obtained from the Hamilton County auditor’s office. For 2018 through 2023, the amounts CCS received in property tax revenue were: $44 million, $47 million, $48 million, $51 million, $53 million and $59 million, respectively. The increase each year averaged 3 to 5 percent, except for 2023, which increased by more than 11 percent. This abnormally large increase in 2023 was due to the dramatic increase in home sale values, which also resulted in huge increases in assessed values. This means that CCS received increased revenue (regular property tax revenue) of more than 34 percent when comparing 2023 to 2018.
Looking at the CCS operating referendum in the same way (which was $17.6 million, $18.4 million, $19.4 million, $20.3 million, $21.2 million and $24 million for 2018 through 2023, respectively) this revenue increased by 36 percent in that timeframe. Looking at total revenue (property tax plus operating referendum funds), CCS will receive 35 percent more in 2023 ($83 million), compared to 2018 ($61.6 million).
A dramatic/unrealistic increase in home sales values, resulting in dramatic/unrealistic increases in assessed values, is a positive for CCS and a negative for those paying property taxes.
There is an old saying that if you give someone (or an organization) more money than they actually need, they will find a way to spend the excess on things they want. Isn’t it time for CCS to tighten its financial belt, as many of us have had to do in this tough economy?
Fred Montagna, Carmel
