From the Lafayette Journal & Courier:
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"The total amount we got was $4,822,447.03," said Tippecanoe County Treasurer Bob Plantenga, noting that the funds should be transferred on April 10.
That breaks down to $2,618,796.72 for county option income taxes and $2,193,386 for economical development income taxes, Plantenga said.
The $10,264.31 over the amount distributed and the accounting of what's owed is presumed to be interest, said Plantenga, who learned of the state's error after a Thursday morning call from the Journal & Courier.
The county option income tax is distributed to all the local taxing entities in the county, including the bus district and library, but it does not include school districts, Plantenga said. For the county, its portion will go into the general fund.
The economic development income tax, which is spent only on economic development ventures, will be distributed to the county, cities and towns.
"The state will tell the auditor what the breakdown is," Plantenga said. "The percentage is based on adjusted property tax levy."
This means that Lafayette and Tippecanoe County will receive the largest slices of the pie, followed by West Lafayette.
Lafayette Controller Mike Jones said Thursday that he hasn't seen the amount coming to Lafayette, but he believes it will be "significant." He said he was reserving judgment as to the error but added he was disappointed that it had happened.
"This is money that we certainly could use," Jones said. "It's disappointing, to say the least, that we keep finding money that could be coming back."
"I'm glad West Lafayette tax dollars are coming home," West Lafayette Clerk-treasurer Judy Rhodes said Thursday afternoon.
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http://www.jconline.com/apps/pbcs.dll/article?AID=2012204060319
