The string can cause a bow to be loud. I'm going to have to disagree with the B50 guys, though. I've never been able to get a bow as quiet with B50 as I can with D97.
Barry Wensel shoots a Tall Tines bow, so I seriously doubt there is an inherent problem with your bow. Barry knows a thing or two about bows, I'm told.
You haven't answered whether you are shooting split or 3 under as far as I can see. Your bow will be louder shot 3 under as it is tillered for split. I assume you ordered the bow new, judging by what you paid, so you should have discussed your shooting style with the bowyer. That being the case, let's assume you shoot split, you told the bowyer that, and he built the bow to fit your shooting style.
Now that we can eliminate tiller as the issue, let's address the sound. The arrow hitting the bow on release will usually result in a clicking or scraping noise (like dragging an arrow shaft across the riser). Your description of the sound seems more like a twang or ring after the arrow leaves the bow. If that is the case, arrow spine can probably be ruled out, and possibly form issues as well.
Next, we need to address arrow weight. The heavier you go, the quieter you bow will be, generally speaking. Obviously, there is a point at which you lose more than you gain by adding arrow weight, but assuming you are not getting too carried away, heavier arrows = less noise. For under 20 bucks you can get a digital scale from several sponsors here. Since you have paid over a grand for your bow, this investment would seem wise and may keep your bow from just hanging on the wall. Shoot for an arrow that weighs about 10 grains per pound of draw weight. Eleven won't hurt. Much over 12 grains per pound, and I start to see my arrows drop faster than I like (messes up my internal calibration of where I'm going to hit). Make sure whatever weight you shoot is spined correctly. Many here bareshaft tune. I prefer paper tuning, but either one will get you there. Tuning is and ABSOLUTE MUST, not just for noise but for penetration and accuracy.
If your arrows are in the correct weight range, I'd change the brace height next. Most of the recurve bows I have had like higher rather than lower brace heights. Some of the old Bear bows were braced at 9 or even 10 inches, so don't be afraid to go higher than you are now.
You see, it is necessary to try to figure out what is NOT causing the noise before you can determine what IS. If you have padded the limbs, you have minimized one of the usual causes of noise in a recurve bow: string slap. Bow still twanging? Do you have a bow quiver available to try? Often a quiver full of arrows will absorb some or all of the twang. Just make sure your fletching doesn't touch or you will create a whole new noise. If the quiver works, you are set.
If the quiver didn't to the trick, it's time for a different string. Many, me included, have had success quieting bows by reducing the strand count in our strings. Some even go down to 6 strands, but I've never been comfortable with that nor have I found it necessary. I pad the loops with additional strands to 15-16 total. I normally use B50 for padding because I have a bunch and it is cheap. I have tried D97 as well for padding and can't tell any difference in noise, performance, or string creep, so being rather cheap, I opt to use B50 as do some of the professional string makers on here. The taper of the padded loop into the skinnier string seems to help reduce noise as does the reduced mass of the string. Theoretically, there is also some increased performance since more energy can be imparted on the arrow instead of being wasted with string mass. I can't say I've really noticed all that much difference myself, but I like quiet over speed, so I'm not really looking to gain performance.
Finally, I have to ask if your bow is a one piece or a three piece? I've had some three piece bows that needed just a bit of a cushion or pad between the riser and limbs. Neither of my current three piece bows do, but in the past I have had some that benefited from a thin pad of some sort. A simple layer of packing tape did it for one. A thin layer of cork gasket material or deerskin works well on some bows. In fact one of the bows I had came with cork padding installed. I can't seem to recall which bow it was, but that really doesn't matter.
Some guys see results using Limbsavers. I bought a bow that had them on it. I thought they were ugly and the bow was still louder than I like. I made a new string and it quieted right down. I took the limbsavers off and it was still quiet but looked much better. I think they are still in a drawer in my shop somewhere. I'd try them as a last resort, I suppose, but I doubt you will need them.
Traditional really is simpler. There are adjustments that can be made but they are really not all that difficult. Try one at a time, starting with the arrows, you will.
Probably the best advice I can give, especially if this is a new bow, is to call the man who built it and see what he recommends! I have never shot a Tall Tines bow, but they have a great reputation, so I'm sure the bowyer would do his best to make you happy with your bow. Most bowyers are more than willing to help you even if you bought the bow used. I have talked to several and got great responses.
Good luck with your new bow!