Collected and spent
In fiscal year 2024, Indianapolis Public Schools collected $95.2M in taxes and spent $612.3M.
Collected
$95.2M
Fiscal year 2024 · taxes
Spent
$612.3M
Fiscal year 2024
Where the money comes from
One tax.
Property tax
$1.3587 per $100 of value
Source · Indiana DLGF — 2024 Certified Budget Order, Indianapolis Public Schools 2024 property tax — IPS certified unit rate 1.3587 per $100 net AV. Read on July 23, 2026.
Details
Indianapolis Public Schools 2024 property tax — IPS certified unit rate 1.3587 per $100 net AV (DLGF 2024 Marion Certified Budget Order). Payable-2024 (assessment 2023) certified rate applied to NET assessed value after Indiana's homestead deductions (standard min(60%, $48,000) + supplemental 40%/30% at the $600k remainder threshold, IC 6-1.1-12-37/-37.5 payable-2024 parameters) and the 1% gross-AV circuit-breaker cap — both modeled by the declared IN profile (option-1 engine build, 2026-07-23; cap-exempt referendum levies not separated, labeled approximation). Township/transit/airport units unrostered (the binding cap makes modeled totals robust)Where it goes
Three service lines.
Schools
$374.7M
General government
$171.2M
Debt service · past obligation
$66.4M
Bars in both tables share one scale. Hatched lines pay for past obligations, not current services.
Source · Indianapolis Public Schools FY2024 Audit Report. Read on September 6, 2026.
Details
Indianapolis Public Schools FY2024 Audit Report (State Board of Accounts filing, opined upon by Forvis Mazars, LLP), Governmental Funds - Statement of Revenues, Expenditures and Changes in Fund Balances, Total Governmental Funds column, year ended June 30, 2024, printed p. 23Who decides
IPEC is the Indianapolis Public Education Corporation. State law gave it these powers after March 31, 2026. The Mayor names its nine members. Voters still elect the IPS Board. That board runs classes and staff at district schools. Voters do not elect the board that sets the school tax levy. The board is appointed, not elected.
Source · Indiana General Assembly, Indiana Code 2026, Title 20, IC 20-25.3-5-3 and IC 20-25.3-3-2 — Indiana General Assembly. Read on October 13, 2026.
When decisions happen
IPS posts meeting dates on a monthly page. September 2026 had a work session, an agenda review and an action session. Sign-up for public comment closes at noon the day before. Check each notice for the place.
Each yearThe Board holds in-person meetings at 6 p.m.
Next electionThe next election is November 3, 2026.
The Election Board's 2026 list has these IPS Board seats: District 2, District 3, District 5 and At-Large.
How to reach it
School Board: 317-226-2056
Phone
Board email
Email
Speak at a Board meeting
Online, through the government's own page
Source · Indianapolis Public Schools, September 2026 Board Meetings, Indianapolis Public Schools, September 2026 Board Meetings. Read on October 13, 2026.
Also on this tax bill
An Indianapolis Public Schools address pays these governments too. Which cities apply depends on the address.
On every bill in Indianapolis Public Schools
IndianaStateIndianapolis city (balance)CityIndianapolis Fire Special Service DistrictSpecial districtIndianapolis-Marion County Public LibrarySpecial district
On some bills, depending on the address
Cities: 7
Center Township (Marion County)Not in Who Taxes Me yet
Washington Township (Marion County)Not in Who Taxes Me yet
Wayne Township (Marion County)Not in Who Taxes Me yet
Warren Township (Marion County)Not in Who Taxes Me yet
Lawrence TownshipNot in Who Taxes Me yet
Perry Township (Marion County)Not in Who Taxes Me yet
Pike Township (Marion County)Not in Who Taxes Me yet
Sources
What it is
Indiana DLGF — 2024 Certified Budget Order, Indianapolis Public Schools 2024 property tax — IPS certified unit rate 1.3587 per $100 net AV. Read on July 23, 2026.
Details
Indianapolis Public Schools 2024 property tax — IPS certified unit rate 1.3587 per $100 net AV (DLGF 2024 Marion Certified Budget Order). Payable-2024 (assessment 2023) certified rate applied to NET assessed value after Indiana's homestead deductions (standard min(60%, $48,000) + supplemental 40%/30% at the $600k remainder threshold, IC 6-1.1-12-37/-37.5 payable-2024 parameters) and the 1% gross-AV circuit-breaker cap — both modeled by the declared IN profile (option-1 engine build, 2026-07-23; cap-exempt referendum levies not separated, labeled approximation). Township/transit/airport units unrostered (the binding cap makes modeled totals robust)Collected
Indianapolis Public Schools FY2024 Audit Report. Read on September 6, 2026.
Details
Indianapolis Public Schools FY2024 Audit Report (State Board of Accounts filing, opined upon by Forvis Mazars, LLP), Governmental Funds - Statement of Revenues, Expenditures and Changes in Fund Balances, Total Governmental Funds column, year ended June 30, 2024, printed p. 23Spent
Indianapolis Public Schools FY2024 Audit Report. Read on September 6, 2026.
Details
Indianapolis Public Schools FY2024 Audit Report (State Board of Accounts filing, opined upon by Forvis Mazars, LLP), Governmental Funds - Statement of Revenues, Expenditures and Changes in Fund Balances, Total Governmental Funds column, year ended June 30, 2024, printed p. 23Taxes
Indiana DLGF — 2024 Certified Budget Order, Indianapolis Public Schools 2024 property tax — IPS certified unit rate 1.3587 per $100 net AV. Read on July 23, 2026.
Details
Indianapolis Public Schools 2024 property tax — IPS certified unit rate 1.3587 per $100 net AV (DLGF 2024 Marion Certified Budget Order). Payable-2024 (assessment 2023) certified rate applied to NET assessed value after Indiana's homestead deductions (standard min(60%, $48,000) + supplemental 40%/30% at the $600k remainder threshold, IC 6-1.1-12-37/-37.5 payable-2024 parameters) and the 1% gross-AV circuit-breaker cap — both modeled by the declared IN profile (option-1 engine build, 2026-07-23; cap-exempt referendum levies not separated, labeled approximation). Township/transit/airport units unrostered (the binding cap makes modeled totals robust)Who decides
Indiana General Assembly, Indiana Code 2026, Title 20, IC 20-25.3-5-3 and IC 20-25.3-3-2 — Indiana General Assembly. Read on October 13, 2026.
When decisions happen
Indianapolis Public Schools, September 2026 Board Meetings, Indianapolis Public Schools, September 2026 Board Meetings. Read on October 13, 2026.
How to reach it
Indianapolis Public Schools, Board Overview, Indianapolis Public Schools, Board Overview. Read on October 13, 2026.
To act on what you have read
Who Taxes Me describes. These three tools, made by the same team, are where you can do something about it. Each opens in a new tab.
Go to TaxTrace
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