Mayor Sue Finkam’s Budget Proposal Protects Public Safety While Holding the Line on Taxes
Carmel mayor maintains pledge to balance the budget, increase transparency, and adjust to declining revenues from state government
CARMEL, Ind., Sept., 8, 2025 - Mayor Sue Finkam presented her 2026 municipal budget today to the Carmel City Council and outlined her vision for the City, while acknowledging the new financial reality all communities in Indiana face following the passage of Senate Enrolled Act 1.
The mayor’s budget proposal increases funding for public safety, provides historic investment in Carmel’s roads and streets, promotes fiscal transparency and invests in pillars of quality of life such as parks and the arts ecosystem, all while maintaining a flat tax rate for 2026.
“We expect to lose about $10 million from what we expected to receive this year,” said Mayor Sue Finkam. “I applaud the state legislature for lowering property taxes for Hoosiers, but cities like ours must account for a substantial loss in revenue in the years to come, and my staff has been hard at work trying to find savings to deal with this new reality.”
The proposed budget is structurally balanced, with General Fund revenue estimates of $144,265,651 for 2026 and expenditures totaling $144,264,340 for the coming year.
Of note, Mayor Finkam’s proposal includes a 10.2% increase in the Carmel Fire Department’s funding, a 7.9% increase in the Carmel Police Department’s budget and a 6% increase to the Carmel Clay Parks and Recreation budget.
“Public safety, infrastructure and arts and parks remain top priorities,” added Finkam. “We’ve focused our investments on essential services while being good stewards of taxpayer dollars.”
Where appropriate, the mayor’s plan uses existing appropriations to lower ongoing operating costs, including reallocating current year savings towards paying off capital leases to save on future payments.
Below is a side-by-side comparison of the 2025 budget and the proposed 2026 budget.
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