Dollars + $ense Financial Information
We take our role as stewards of your taxpayer dollars very seriously and are committed to financial transparency. Dollars and $ense is where you can find details on Noblesville Schools finances, learn more about how Indiana schools are funded, and stay up to date on school district costs, spending and financial accomplishments.
Noblesville Schools Financial Highlights
- 2025 Certified Assessed Value $5,350,930,880 (6 percent increase)
- 2025 Property Tax Rate $1.2515 per $100 of assessed value
- Decreased tax rate for seventh year in a row
- Bond Rating AA
- Standard and Poor’s credit rating ranks Noblesville Schools as a top four best finance district in the state
- Total outstanding debt per capita $3,791
- Debt is structured to have an aggressive payoff
- Teacher Salary Range $48,000 - $92,000
- Average Daily Membership (student count) Fall 2025 10,312
- Ten schools, five district buildings, 18 athletic fields, over two million building square feet and 550 acres
Noblesville Schools Financial Documents
- 2025 Budget
- 2025 Budget Hearing Presentation
- Monthly Budget Tracking
- Financial Statement and Federal Audit Compliance Report
- State Financial Reports
School Finance in Indiana
School finance is unique due to funding and legal requirements. Practices used in personal or business finances may not always apply under the rules schools are required to follow.
In Indiana, school districts are funded through three main revenue sources:
Federal
Noblesville Schools receives very minimal federal grants passed through the State.
State
The State of Indiana uses a formula to calculate different amounts of funds for each school district. The amount of funding is different from district to district and also changes each year. The formula takes into account the total number of students, student special needs, student poverty levels and more. This money accounts for almost half of district funding.
Local
Local taxpayers support schools through property taxes. These dollars are used to fund transportation, operations, and capital investments. Additionally, local communities may choose to pass a referendum to provide further support to schools.
As required by law, school finance is managed in specific “buckets" that are intended to fund specific purposes.
This is why districts may have enough money to replace buses or update facilities, but not enough money to pay their teachers more.
Learn more about each of these finance buckets, including where their money comes from and how these funds are spent at Noblesville Schools.
You May Be Wondering
What is Noblesville Schools doing to help lower my high property taxes?
Noblesville Schools believes in managing taxpayer dollars responsibly and we are always looking at ways to cut costs and increase efficiencies. The school district uses only a portion of your local property taxes and we have lowered our share of that property tax rate for the last seven consecutive years. Many homeowners are paying higher property taxes because of rapidly increasing assessed value on their homes, not because of spending by the school district.
Why is Noblesville Schools making facility updates instead of lowering taxes and/or paying teachers more?
In recent years Noblesville Schools has moved to address overcrowding in buildings, aging facilities, growth in programs, and needed preventative maintenance to better serve students and be cost effective with replacements and repairs. As is the norm in Indiana school finance, all of these projects were funded through bonds (loans) without an increase to the tax rate or the use of referendum dollars. The district is not legally allowed to use these dollars for operating expenses like salaries. This is because of the school finance “buckets” and the rules associated with them.
Why does Noblesville Schools need a referendum?
When the state implemented property tax cap legislation, it significantly decreased funding for many schools. The state funding formula has also not kept pace with inflation, which makes it increasingly difficult to maintain programming year-over-year. Additionally, school districts that serve more affluent areas get less money per student from the state. Noblesville Schools must now rely on referendum funds to continue to provide outstanding academic programming, reduce class sizes, recruit and retain strong educators during a teacher shortage, provide safety staff and equipment, support students’ increasing mental health needs, and offer exceptional career and extracurricular opportunities. Go here for more information and FAQs regarding the referendum.
What is Noblesville Schools doing to cut costs?
As a district we regularly work to streamline staffing and services, and negotiate savings in our contractual dealings with vendors. We also continue to focus on revenue generation through optional services, grant writing, and sponsorship partnerships. It’s also important to remember that unlike a business, we cannot: (1) raise prices when costs increase, (2) stop offering services when they are expensive, and (3) move money from one area to another to meet needs.
How have property tax caps and recent legislation to lower property taxes impacted Noblesville Schools?
When the state implemented property tax cap legislation, it significantly decreased funding for many schools. Recent property tax legislation will increase that shortfall by millions of dollars a year. These changes have increased the need for schools to seek supplemental referendum funds to continue to operate at current levels. This puts more control into the hands of the local Noblesville community to decide how best to fund their schools.
How does tax increment financing (TIF) impact Noblesville Schools funding?
TIF district creation follows a process outlined in Indiana code. When evaluating a TIF, the Redevelopment Commission confirms the school would not experience a negative financial impact. Noblesville Schools actually benefits from TIF creation by collecting additional referendum tax dollars on increased investments generated from the TIF.
More questions?
Contact our Chief Financial Officer David Hortemiller (317) 773-3171 for more information.
