From the Jeffersonville News and Tribune:
Tax rates for two of Clark County’s funds will be increasing if they are accepted by the Department of Local Government Finance.
The Clark County Commissioners unanimously approved increases to both the county’s Cumulative Capital Fund and Cumulative Bridge fund Thursday night.
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When the commissioners reinstituted the cumulative bridge fund in 2010, it was at a rate of 3 cents per $100 of assessed valuation. Thursday the commissioners approved a proposal — ordinance 20-2012 — that would increase the bridge fund rate to 5 cents per $100 of assessed valuation.
Commissioner John Perkins said Clark County is responsible for the maintenance of 133 bridges throughout the county.
Fifer said the maximum the cumulative bridge rate can be is 10 cents per $100 of assessed value.
For a $100,000 home the total a taxpayer would pay for the cumulative bridge fund annually is $50.
The commissioners also approved raising the rate of their cumulative capital fund.
The current rate to county taxpayers for the fund is .018 cents per $100 of assessed value and if the increase is approved, the rate will nearly double. Ordinance 21-2012 would raise the cumulative capital rate to .0333 cents per $100 of assessed value.
For a $100,000 home the rate will cost a county taxpayer a total of about $33 per year.
Last year, the commissioners attempted to increase the rate of their cumulative capital fund by the same increase, but it was not approved by the DLGF.
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The funding from the rate increase will not be realized until next year and both ordinances are still subject to approval by the Department of Local Government Finance before they are enacted.
http://newsandtribune.com/business/x1640793620/Clark-County-Commissioners-OK-tax-increases
