The PUBLIC HEARING for the City of Fishers’ re-establishment of Cumulative Capital Development Fund is held every year in March.
This is not a new tax nor is it a tax increase. This is the annual request to renew the collection of a property tax that is already in place.
The Cumulative Capital Development Fund has been in existence for many years in Fishers. It raises funds each year for capital projects and infrastructure improvements in the city.
The Public Hearing is a necessary agenda item for the March City Council meeting each year because of state deadlines and procedures. The Cumulative Fund Tax Levy Procedures are found in Indiana Code 6-1.1-41.
The proposal to collect this tax from residents must be filed with the Indiana Department of Local Government Finance by the City of Fishers no later than April 30 the year prior of the tax collection. If not, the tax rate is automatically reduced.
The final vote on this matter must be taken at the April City Council Meeting. The vote must occur at the April meeting after the Public Hearing that is held in March.
This action doesn’t set the exact rate nor does it detail what the funds will be used for. This action simply re-establishes the fund which protects the current tax rate. The actual rate will be determined later this year during the 2022 budget planning process, but it can’t exceed the current tax rate of $0.05 per $100 of the assessed value of your property. The 2022 budget planning process includes a detailed budget presentation by Mayor Fadness and a Public Hearing at the September City Council meeting.
Here’s some additional information about Fishers Cumulative Capital Development Fund. It is from 2019 but still insightful.
FOX59 News article, March 27, 2019
Current in Fishers article, March 29, 2019
A PUBLIC HEARING means that any resident is invited to comment on this topic. This is the only opportunity to make a comment and address the City Council on this specific matter before the final vote in April. There are two ways to participate in the Public Hearing.
- Fishers residents are welcomed to submit public comments electronically prior to the meeting. All comments received before the meeting will be presented at the meeting and will be part of the meeting’s Community Comment. The Public Comment Form is live on the website right now. Select the March 15 City Council meeting. Please submit your comments as soon as possible, before noon on Monday, MARCH 15 is ideal.
- Fishers residents can also attend the March 15 City Council meeting in person at City Hall. When the Public Hearing is opened, residents take turn stepping to microphone and can speak for up to three minutes. Please be aware that there is limited seating in City Hall to ensure social distancing. The meeting will begin at 7pm on Monday, March 15, 2021. Prior to the meeting, I detail each agenda item for your review and post it here.
You can observe the meeting by live-streaming the video at http://tinyurl.com/FishersCityHall. This is the way to observe the meeting live-stream video, you will not be able to make a comment during the meeting.