Shaffer questions official numbers on Carmel’s loss of revenue from tax cuts

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Dear Editor:

Last year the state provided property tax refunds of up to $300 for Indiana taxpayers.

For weeks since, Carmel city officials have said that act will mean $10 million less in revenue to the city.

This is patently untrue.

There are up to 40,000 property tax accounts on file in Hamilton County with Carmel addresses on them.

At $300 apiece, that would mean a reduction of $12 million – not $10 million.

But Carmel gets just 39 percent, and the schools, township, county, and library share the rest.

Carmel would get $4.68 million in this optimized scenario since it is unlikely that all 40,000 qualify for the $300.

So why not just tell us the truth? And why not tell the truth about $1.6 billion in debt and the $102 million debt repayment due this year?

Bill Shaffer
Carmel