From the Vincennes Sun-Commercial:
The city council Monday unanimously voted down a proposed tax increase.
When council members heard that local property owners would most definitely be asked to pay more should the rate in question be raised, they decided now just wasn’t the time.
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City clerk-treasurer David Culp proposed the tax hike to the council weeks ago.
During former mayor Bill Rose’s administration, when Culp was a member, the council created a Cumulative Capital Development Fund, one that had its own property tax rate and generated money to be used, typically, on one-time capital improvement expenditures like the purchase of police cars.
The current CCD fund’s sits at just 1 cent per $100 of a property’s assessed value. The council learned from Culp that it has the authority to raise the rate to 5 cents, a move that could have $150,000 a year, tripling what it brings in at its current rate.
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