In a recent government meeting, officials announced a reduction in the municipal tax rate for 2025. The new rate will be 0.4805, down from 0.5229 in 2024. This rate remains the lowest compared to neighboring communities, with Lebanon at 0.7736 and Whitestown at 1.4401.

The meeting also discussed allocations from the food and beverage fund. Key expenses include $75,000 for the Boone Economic Development Corporation, $30,000 for the Indy Chamber, $60,000 for a grant writer, and $115,000 for Town Hall payments. Additionally, $100,000 will be set aside for an asset audit and the potential startup of a Designated Outdoor Refreshment Area (DORA), pending approval in a future meeting.

Looking ahead, officials expect the net assessed value to rise by about 13% in 2025. However, this increase will not significantly boost revenue due to state limits on the net levy quotient. To enhance future revenue, the town plans to focus on increasing commercial assessed value through new developments. Discussions with state lawmakers about potential funding formula changes are also underway.

Another important topic was the creation of a stormwater utility. This initiative aims to separate stormwater expenses from the general fund, ensuring that these costs are covered independently.

The budgeting process will continue with changes allowed in the Gateway portal until early October. A second public reading and formal council approval are scheduled for October 7. The meeting concluded with an invitation for public comments, although no comments were made.