HomeMy WebLinkAboutCC 11-21-22-02 2023 Property Tax Rate Not to Exceed 0.7877, Same as 2022 RateSponsors: Councilors Worrell, Aasen
and Finkam
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RESOLUTION CC-11-21-22-02
A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF CARMEL, INDIANA,
TO LIMIT THE RATE FOR TAXES PAYABLE IN 2022 AND AUTHORIZE NECESSARY
TEMPORARY BORROWING AMONG CITY FUNDS
Synopsis: A resolution finding that the City’s 2023 property tax rate should not exceed
0.7877, which is the same as the 2022 rate, recommending how the DLGF should allocate the
2023 property levy among City funds; and permitting temporary borrowing among funds
during 2023.
WHEREAS, it is the policy of the City of Carmel, Indiana (“City”) to keep the City property
tax rate level for taxes payable in 2023 in comparison to 2022; and
WHEREAS, the Indiana Department of Local Government Finance (“DLGF”) has the
authority to set the final City tax rate for taxes payable in 2023; and
WHEREAS, the Common Council finds it to be in the interests of the City 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 finds it in the interests of the City to maintain a positive
cash balance in every City fund for cash flow purposes; and
WHEREAS, the Common Council finds that certain City funds have sufficient cash
available to deposit temporarily 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 2023 City tax rate, for all City
funds, so as not to exceed $0.7877 per $100 of assessed value.
Section 2. The DLGF is respectfully requested to set the 2023 property tax levy of the 0708
Motor Vehicle Highway Fund at a level no greater than the amount needed to fund appropriations.
Section 3. Except as provided in Section 4, the DLGF is respectfully requested to set the
2023 property tax levies of the 2391, 0180, and 0181 debt service funds at levels needed to fund
appropriations plus operating balances to the extent allowed by law.
Section 4. After applying the maximum ad valorem property tax levy, as that term is
described at Indiana Code § 6-1.1-18.5-3, to the 0708 Motor Vehicle Highway Fund and the 0101
General Fund, as appropriate, the Department of Local Government Finance is respectfully requested
to reduce levies, as necessary, to eliminate operating balances in the 2482 Road Bond Fund, the
0180 Debt Service Fund, the 0181 Debt Service Fund, and then the 0182 Debt Service Fund in that
order, and then to reduce the levy in the General Fund, such that the total tax levy is reduced to a
level which will result in the total City tax rate named in Section 1.
Section 5. The Common Council hereby permits borrowing among City funds in accordance
with Indiana Code § 36-1-8-4. Borrowing is permitted only when it is necessary to enhance a fund in
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Sponsors: Councilors Worrell, Aasen
and Finkam
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need of money for cash flow purposes when another fund has sufficient money on deposit. The
borrowed amount shall be returned by December 31, 2023, and may not exceed the amount needed to
fund appropriations or other lawful disbursements. Only revenues derived from the levying and
collection of property taxes or special taxes or from operation of the political subdivision may be
included in the amount transferred.
SO RESOLVED by the Common Council of the City of Carmel, Hamilton County, Indiana,
this day of , 2022.
COMMON COUNCIL FOR THE CITY OF CARMEL, INDIANA
_________________________________ ____________________________________
Kevin D. Rider, President Jeff Worrell, Vice-President
_________________________________ ____________________________________
Sue Finkam Laura Campbell
_________________________________ ____________________________________
Tim Hannon Bruce Kimball
_________________________________ ____________________________________
Miles Nelson Anthony Green
_________________________________
Adam Aasen
ATTEST:
__________________________________
Sue Wolfgang, Clerk
Presented by me to the Mayor of the City of Carmel, Indiana, at o’clock
m. on the day of , 2022.
Sue Wolfgang, Clerk
Approved by me, Mayor of the City of Carmel, Indiana, at o’clock . m. this
day of , 2022.
James Brainard, Mayor
ATTEST:
Sue Wolfgang, Clerk
Prepared by Curtis L. Coonrod on September 23, 2022, as suggested language only and not as
legal advice. No subsequent revision has been reviewed by Mr. Coonrod.
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