The Burns
Harbor Town Council took three significant actions at Wednesday’s monthly
meeting:
• Voted
unanimously to increase from one-half cent to 5 cents the property tax rate for
the cumulative capital development fund, a seven-fold increase.
• Tabled
planned discussion regarding a proposed 10-year tax abatement extension for
ArcelorMittal USA until the May 9 meeting.
• Disbanded
the town’s Economic Development Commission with council member Mike Perrine
dissenting.
Councilman
Greg Miller said the CCDF rate increase translates to an additional tax burden
of about $30 per year for a home valued at $100,000 to $150,000 and higher for a
more expensive home. Mittal, the town’s largest taxpayer, will pay most of the
increase.
If state tax
officials approve the higher rate, the CCDF fund is anticipated to generate
about $250,000 annually beginning with the 2013 tax bills through 2015. The
half-cent rate raises $29,805.
As of
Feburary, both Chesterton and Porter each had a CCDF rate of 4 cents or more,
respectively. The maximum allowable rate is 5 cents.
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