The following Press release was put out by the City of Fishers tonight. Note that if you are at the tax cap, and if your assessed value increased this past year, then it is still possible for your property taxes to increase.
Fishers Common Council Passes 2023 City Budget, Property Tax Decrease
Council members also voted on measures to enact a 1% Food and Beverage Tax, Approve Fishers Event Center
Fishers, Ind. – The Fishers Common Council held its final reading and vote for the 2023 City Budget, resulting in a unanimous vote in favor of the proposed budget. Mayor Fadness presented the budget, proposing a property tax decrease, investments in infrastructure, and quality of life amenities while maintaining healthy cash reserves.
“My administration has worked tirelessly to bring high-quality services and amenities to Fishers residents while making sure we’re thinking critically about our revenues and expenditures,” remarked Fishers Mayor Scott Fadness. “As a result of this careful attention, we’re in the position we are today – to reduce property tax rates back to 2020 levels – while simultaneously making record-breaking investments in our community.”
Members of the city council and the public were briefed on the proposed budget during the August, September, and October Finance Committee meetings, including an additional special Finance Committee meeting in September.
The Fishers Common Council also voted to enact a one-percent Food and Beverage Tax with an 8-1 vote with Councilwoman Jocelyn Vare voting against the measure. The tax will go into effect on December 1, 2022. Revenue generated from the tax will go directly toward the debt service payments for the Fishers event center. This recently announced mid-sized event center will be home to the ECHL Indy Fuel and anchor of Thompson Thrift’s expansion of Fishers District.
The City’s fiscal year ends on December 31. Details of the 2023 City Budget can be found at fishers.in.us/Budget.
For more information on the event center, food and beverage tax, or Fishers District visit thisisFishers.com/NextChapter
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