FISHERS, Ind. (Oct. 21, 2015)-- Fishers residents will be paying more in taxes next year.
“There will be a one cent increase in the property taxes, which actually takes us back to the property taxes that we had at the level of 2014, says Fishers Mayor Scott Fadness.
The penny increase, per $100 of the assessed value of homes, will be added onto the annual municipal taxes. City leaders say the increase will help pay off their debt on a road project at 96th Street and Allisonville Road. The move is just another sign that the northeast suburb continues to grow.
“Sometimes you go do large road projects and when you do those you have to borrow money to pay for them and you actually add small incremental taxes,” said Fadness.
The council unanimously approved the increase along with their new budget on Monday. The increase is the first tax increase for the city’s first mayor. Many residents say they can’t complain too much about the increase because they are still paying less in taxes than any other city in Hamilton County.
“It was not going to be all that much, I thought well you know…it makes sense,” said a Fishers resident.
The $81 million budget includes three new hires in the Fishers police department, along with 13 new police cars and two fire trucks. The city also plans to spend more money on maintaining roads, which are seeing increasing traffic and plans to extend the fall creek road sidewalk into a multi-use trail. This will help the city handle a growing residential community.
“Nobody ever wants to raise taxes. That is the last thing that we want to do," said Fadness. "But it is all about value, we have to continue to invest in our community.”