CARMEL – The $180 million Putnam County proposed budget for 2023 includes no increase in the county property tax levy.
The spending plan, drafted by County Executive MaryEllen Odell, stays within the state property tax cap and includes an increase of $11.3 million, or 6.3 percent, over the 2022 budget.
The budget “carries out our vision of laying the groundwork for a better quality of life for future generations, and its implementation will complete our challenge of fulfilling our fiscal and social responsibilities to our constituents,” said Odell.
She will retire at the end of the year because of county term limits.
During her tenure in office, Odell has reduced the county’s debt level by more than $48 million since she took office some 11 years ago, and eliminated short-term borrowing.
It has increased the county’s general fund balance by nearly $49 million, leading to a bond rating of Aa1.
“The financial stability of the county has never been better, and we are extremely well positioned to withstand any bumps in the economy that may be ahead,” said County Legislature Chairman Neal Sullivan.
The county legislature will review the budget, make any modifications it deems appropriate, and approve it by November.
