New law means $4.7M more in tax revenue for Fishers, courtesy of Carmel
Fishers city officials are making plans to spend $4.7 million that, in any previous year, would have gone to the city of Carmel. Instead, special legislation passed in 2019 that caps Carmel’s income tax revenue growth at 2.5% per year for three years, with any excess transferred to Fishers, was triggered in the first year it could apply.