The impact of the state’s 2025 property tax legislation is greater than originally expected for Carmel Clay Schools.
Initially, the district thought it would collect $94 million less than projected if Senate Enrolled Act 1 hadn’t been passed, but further calculations put the amount closer to $120 million in losses over the next eight years — about $15 million annually — according to Superintendent Thomas Oestreich.
It’s a significant loss, as property tax revenue funds a school district’s operational expenses, such as utilities, transportation and some non-teacher personnel, such as school bus drivers and custodians. And in Carmel, property tax revenue supports certain teacher salaries and school resource officers via referendums…