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Carmel leaders say state tax changes leave city revising budget; public briefings planned
Summary
City officials told a Brookshire town hall that Senate Enrolled Act 1 and related property-tax changes will reduce assessed values and alter revenue streams; council finance chair and the mayor said the city expects to present a first draft Sept. 1 and to hold public briefings in August and September.
Carmel officials warned residents at a Brookshire town hall that changes to state law affecting property-tax assessments will reduce the city’s near-term revenue and require adjustments in the 2026 budget. "Right now, we are approaching our budget time of year, which is probably some of the most important things we do as the city council," said Rich Taylor, at‑large city councilor.
The matter stems from changes lawmakers adopted in what officials called "Senate Enrolled Act 1," which, Taylor said, provides a $300 credit for homestead homeowners and an assessed‑value deduction that will phase in through 2031. Taylor explained that the municipality’s revenue is tied to a formula — rate times assessed value — and that lower assessed values…
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