HomeMy WebLinkAboutCC-10-16-17-01 Setting 2018 Property Tax Rate at .7895Sponsors: Sue Finkam
RESOLUTION CC -10-16-17-01
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA,
TO SET TAXES PAYABLE IN 2018 AND AUTHORIZATION OF BORROWING
BETWEEN FUNDS
Synopsis: Resolution finding the City's 2018 property tax rate should be 0. 7895, the same as
the current year, and showing how the DLGF should allocate the 2018 property levy/rates by Fund.
Resolution also reaffirms borrowing between funds for 2018 budget year.
WHEREAS, it is the policy of the City of Carmel, Indiana ("City") to keep City property tax
rates level for taxes payable in 2018; and
WHEREAS, the Indiana Department of Local Government Finance ("DLGF") shall set the
total City tax rate for taxes payable in 2018; and
WHEREAS, the Common Council intends to levy for the 0708 Motor Vehicle Highway
Fund only the amount needed to fund appropriations, leaving no operating balance; and
WHEREAS, the Common Council intends to enhance funds in need of money for cash flow
purposes; and
WHEREAS, the Common Council finds that certain funds have sufficient cash available to
temporarily deposit to the credit of other funds.
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Carmel,
Hamilton County, Indiana:
Section 1. The DLGF is respectfully requested to set the total 2018 City tax rate, for all City
funds at exactly $0.7895 per $100 of assessed value.
Section 2. The DLGF is respectfully requested to set the 2018 property tax levy of the 0708
Motor Vehicle Highway Fund at a level no greater than the amount needed to fund appropriations,
with no operating balance.
Section 3. The DLGF is respectfully requested to set the 2018 property tax levy of the 0180
Debt Service tax levy at a level no greater than the amount needed to fund appropriations, with no
operating balance.
Section 4. After applying the maximum allowable property tax levy to the 0708 Motor
Vehicle Highway Fund, 2391 Cumulative Capital Development Fund, and the 0101 General Fund, as
appropriate, the Department of Local Government Finance is respectfully requested to adjust, as
necessary, the 2482 Road Bond Fund tax levy to a level which will result in the total City tax rate
stated in Section 1.
Section 5. The Common Council permits the borrowing among funds under Indiana Code §
36-1-8-4. Borrowing may only take place where it is necessary to enhance a fund in need of money
Prepared by James Brainard
Version A
for cash flow purposes. The borrowed amount shall be returned by December 31, 2018, and may not
exceed the amount needed to fund appropriations or other lawful disbursements. Borrowing may
only take place where a fund has sufficient money on deposit that can be temporarily transferred.
Only revenues derived from the levying and collection of property taxes or special taxes or operation
of the political subdivision may be included in the amount transferred.
S RESOLVED by the Common Council of the City of Carmel, Hamilton County, Indiana,
this day of LQ r, -f& be V�-
, 2017.
COM ON COUNCIL FOR THE CITY OF CARMEL, INDIANA
ffesi t Ronald E. Carter
i D.D. Rider3 u1ra D. CampbellU / n
I ` ` L�
eLa
ll A H. Bruce Kimball
A E�•
Christine S. Pauley, Clerk -Treasurer
Presented by me to the Mayor of the City of Carm , Indi , y 0 o'cloc m. the
day of 0L7 2017.
S. Pauley, Crk-Treasurer
Approved by me, Mayor of the City of Carmel, Indiana, at1.? Wclock _Z. m. this _ day of.
17 , 2017.
Z�� &'�
mes Brainard, Mayor
Prepared by James Brainard
Version A