From the Richmond Palladium-Item:
Union County property tax rates won't increase next year and the county will invest some Rainy Day funds to earn more interest.
The Union County Council voted unanimously Thursday not to raise the tax rate of the Cumulative Capital Development Fund, which was projected to bring in $47,000 more per year.
Five residents spoke against a 1.5-cent tax rate increase at a hearing last week, but only one resident attended Thursday's meeting and he didn't speak on the issue.
The Cumulative Capital Development Fund can be used for computer program maintenance fees, police cars and building improvements.
Residents at the hearing questioned why the county wanted a tax increase when it has more than $800,000 in the Rainy Day Fund, Councilman Russel Rude said.
"It's become a sacred cow," Rude said of the fund. "I'd prefer to use some of that if we need to, rather than raising taxes. Raising (the cumulative fund) has some advantages for our budget process, but if something happened, we could still raise the cum cap fund."
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http://www.pal-item.com/apps/pbcs.dll/article?AID=2012120622014
