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Transportation board budget to hold capital level; property-tax revenue expected to fall
Summary
The Speedway Public Transportation Board reported a projected drop in property-tax income from about $398,000 to $345,000 next year and plans to keep capital spending (sidewalks/radar signs) near prior levels while targeting sidewalk projects near bus stops.
The Speedway Public Transportation Board presented its 2026 operating budget to the council on Aug. 20, reporting a projected decline in property-tax revenue and plans to maintain its capital program focused on sidewalks and bus-stop areas.
Dean Butts, treasurer of the Transportation Board, told the council the board received just over $398,000 in property-tax revenue this year but currently estimates about $345,000 next year, a roughly $45,000 reduction tied to Marion County circuit-breaker calculations. Dean said the total levy is going up but the circuit-breaker impact reduces the board’s net receipts.
The board plans to keep its Indigo contract at $264,096 and to hold capital at $150,000 for sidewalk repairs and other projects targeted at areas around bus stops. Dean said the board has funded radar signs and expects to add two radar signs next year (budgeted at about $30,000), plus potential maintenance for existing signs. He emphasized that Transportation Board funds must be spent in and around areas affected by bus stops.
Members noted the board prioritizes sidewalk continuity and accessibility — especially where gaps prevent wheelchair users from reaching stops — and that prior projects include Tenth Street, Mueller Road and other targeted sidewalks. No formal council action was taken during the presentation; staff will continue to refine the budget ahead of Sept. 8.
