Property taxes make up just under 50% of Carmel’s annual general fund budget, and 1/3 of that comes from businesses. Carmel’s strategy has been to attract and retain large employers and national headquarters in order to keep our residential taxes low.
Carmel’s strong fiscal management has allowed us to maintain a very low tax rate, while at the same time provide our residents with excellent city services. Out of 118 cities, Carmel’s rate is currently 9th lowest.
A comparison of Carmel’s tax rate to other municipalities:
Updated June of 2022