It is budget time for Hamilton County government, and it looks like the county’s share of local tax rate will go down, while assessed valuation of property will go up 6%. Fred Swift reports in the August 8th edition of the Hamilton County Reporter that the value of property subject to taxation throughout the county has increased by one and one-third billion dollars (that’s billion with a B).
According to Swift, this means that if the budgets of the units of local government are, on average, held to less than a 6 percent increase there will be a slight decrease in property taxes in 2021.
The numbers, supplied by Deputy Auditor Lee Graham to reporter Swift, show the net taxable value of the county is $24.9 billion due to a healthy increase in new construction aided by a trending upward in the value of land in many parts of the county.
Another story published by the Reporter, this one in August 7th edition, cites Hamilton County Council President Rick McKinney as saying that county revenues will meet expenditures and residents will see a 1.27 percent projected decrease in county taxes.
County council budget hearings over the last few days resulted in finalizing a budget of just under $100 million for county general operations for the 2021 fiscal year.
Here are more details about the HAMCO budget next year, from the Reporter:
The proposed budget addressed some major projects, including the State Road 37 improvement project, construction of a county-owned parking garage to be located at 8th and Clinton streets in Noblesville, and increased security measures at the historic courthouse, which includes in part the hiring of three additional security personnel.
Additionally, the proposed budget includes the hiring a full-time deputy prosecutor to handle increased domestic violence cases, a part-time staff attorney for county judges will move to full-time, and a parks department position will change from part-time to full-time.
McKinney said the proposed budget halts the county’s matching contribution for its employees’ deferred compensation program.
Elected officials, other than council members and commissioners, will receive a 1 percent increase in salary. Commissioners and council members will not receive a salary increase. Other county employees will continue to receive salary increases based on the county’s salary matrix.
Again this year, the county will financially assist several local non-profits.
“It is always a struggle funding non-profits; however, the council did agree to provide funding to organizations that received funding in 2020,” said McKinney.
A total of nine non-profits will share $580,000. The council did add Westfield-based Heart and Soul Clinic to the list of organizations.
Hamilton County Commissioner Steve Dillinger praised the council for proposing a conservative budget.
Dillinger
“These are financially uncertain times,” Dillinger said. “We need to be prudent and conservative right now.”
According to Dillinger, a possible reduction in LIT tax received by the county – due to unemployment related to COVID-19 – could impact county revenue.
“Because of the way LIT tax is distributed, we will not fully know the financial impact until 2022,” Dillinger said.
A public hearing on the budget will be conducted at 7 p.m. on Oct. 7 at the Hamilton County Government and Judicial Center. A final council vote to approve the budget will take place at 8:30 p.m. on Oct. 19. After council approval, the budget will be sent to the State of Indiana for review before going into effect on Jan. 1, 2021.