Reader lists a few “interesting” facts about Carmel’s finances

Posted By: The Reporter November 13, 2018

Dear Editor:

A quick glance at city, county and state records reveals some interesting facts about Carmel:

A. Carmel’s principal debt rose 57.6 percent – from $513.7 million to $810.1 million.

B. Carmel’s total indebtedness as reported by the city to the Indiana Department of Local Government Finance increased $326.1 million or 30.8 percent – from $1.1 billion to $1.4 billion – just this year.

C. Carmel’s property tax rate increased 82 percent from 2007 to 2018 — from 0.4329 to 0.7887.

D. Carmel’s lavish music hall had twin theaters attract an average of 447 patrons in 1,800 events since they opened, according to the mayor’s State of the City address in October.

One hopes other Hamilton County cities take notice and choose other courses of action.

Bill Shaffer

Carmel

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2 Comments on "Reader lists a few “interesting” facts about Carmel’s finances"

  1. Doug McLean | November 14, 2018 at 2:53 pm |

    This is why we recently moved out of Carmel. Sure, great place to live as we’re reminded over and over again, but with a cost.

  2. Mr. G. Rinch | November 15, 2018 at 8:33 pm |

    Did you hear that Westfield? Carmel has the Palladium as their costly Taj Mahal. Westfield has Grand Park.

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