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Carmel’s willingness to invest is one of the major things that has set it apart from other cities.
So they are projecting to be underwater by ~$3m…thus the reason for the increase during a period of active residential home building. What is their plan after the city is landlocked and completely built out? How do they tax and who do they tax going forward to generate the necessary revenues to cover their ongoing operating expenses? They can no longer get it from residential developers, so hmmm, guess who they will get the tax dollars from next?!
This is basically the premise of the Strong Towns movement. Revenue dependent on perpetual growth isn’t sustainable, so land uses that are intense enough to provide enough revenue to fund the supporting infrastructure is important.
I know what’s we’ll do: instead of building parks, paths, roads while our community is growing, we’ll simply not invest anything. Congratulations! Welcome to Marion County.
Or the new tax income from the new residences collected. Carmel is pretty financially savvy, while others just spout false opinions. Envious? No worries, residence are happy to live there.