The proposed 2025 Noblesville Civil City budget totals $127,685,62, with an operational budget of $110,422,574, excluding bond payments. It is set to maintain a property tax rate of $1.10 per $100 of assessed value for the fourth consecutive year.
Noblesville Deputy Mayor Matt Light and Chief Financial Officer and Controller Jeff Spalding introduced the budget to the common council Sept. 24. The council is expected to vote on the budget Oct. 29.
“This budget makes investments that support the expanding Noblesville community, stimulates the economy and grows our tax base responsibly. We’re focused on strengthening core operations and personnel while advancing key infrastructure and quality-of-life initiatives, such as the new police station,” Noblesville Mayor Chris Jensen stated. “Our administration is committed to a thoughtful and strategic approach in managing the budget to ensure we are responsible stewards of taxpayer funds. With these efforts, our city is financially prepared to keep up with its growth, and there is much to look forward to.”
The proposed budget makes continued investment in capital priorities that include Pleasant Street with the extension of the Midland Trace Trail, Innovation Mile, a new police station, trail projects and road improvements, according to Noblesville Communications Director Lexie Rock.
Rock said city departments and the central finance office formulated the budget over several months with intensive review and analysis. Departments detailed budget reports and requests to the council during three work sessions in August.
The proposed budget includes $17.1 million in requested increases from the base budget. The base budget is composed of appropriations approved in prior years to cover ongoing expenses.
“That by itself is a 15.5 percent increase from the base, but a lot of that is for non-recurring spending,” Spalding said. “So when you remove the one-time spending that’s included in there, it’s a ($6.4 million or) 5.7 percent growth.”
An 18.1 percent increase is proposed for core operational funds, which are city funds and revenue sources most relevant to departmental operations. Core operational funds include the general fund, parks fund and motor vehicle highway fund. A 6.4 percent increase in core operational funds is proposed for 2025 without one-time spending.
“This budget addresses the needs of our growing city while aligning with the objectives set by the council and administration,” Noblesville Common Council President Darren Peterson stated. “The proposed budget also ensures financial stability for Noblesville. The council looks forward to continuing to work with the city’s administration to ensure that the final product protects taxpayers and addresses community priorities.”
Members of the public may comment on the proposed budget at the Oct. 15 and 29 common council meetings. Local budgets must be adopted before Nov. 1 per state law.
View the proposed budget at noblesville.in.gov/egov/documents/1726841462_98402.pdf.
