Carmel Budget Increases - Taxes Go Down
Carmel recently passed its $82 million budget for 2009 which is an increase of about 9.7% over last year. Despite the almost 10% increase in the budget, the mayor of Carmel contends that homeowners property taxes will not only not go up, but will most likely go down. Businesses however, will see a slight increase in taxes in order to pay for the increase in budget.
Carmel, due to its diverse tax base, has always been able to keep property taxes very low compared to the rest of the surrounding area. This is IMHO, one of the contributing factors that keeps Carmel as desirable an area as it is. For example, if you are looking at Carmel real estate and Westfield real estate you will no doubt be able to get more house for you money in Westfield. However, when you consider Westfield’s taxes into the equation Carmel becomes a much more attractive option.
People, both locals and relocations, understand that Carmel real estate is very desirable and are willing to pay a premium to live in the vibrant city. However, if property taxes were to get out of hand I think buyers would have to take a serious look at other options. I applaud the effort of the Mayor for keeping taxes low and ensuring that Carmel real estate remains the most desirable in the metro Indianapolis area.