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Dear Editor:
Carmel politicians are bracing for a $10 million revenue shortfall next year and a $20 million shortfall in 2027.
Having borrowed to the hilt and suffering under the debt repayment load greater than any budget item such as police or fire, there’s only one place to go.
Increase taxes.
The city’s own data, as reported in audited annual financial reports, shows property tax receipts average about $45 million a year.
A $10 million increase would be 22 percent of that.
If a Carmel taxpayer paid $3,000 this year, his property tax bill would be $3,660 next year and more than $4,465 in 2027 – a 50 percent pop.
The city confiscates $1,500 with no increase in services or, perish the thought, significant cuts in spending.
That’s what the City of Roundabouts has in store for its citizens.
Bill Shaffer
Carmel