From the Jeffersonville News and Tribune:
The Clarksville Town Council raised the rate on its cumulative capital development fund at a special meeting Monday.
The fund’s rate went from $0.022 to $0.05. Clarksville residents who have not yet reached the circuit breaker property tax cap can expect their town taxes to go up about $28 per $100,000 of assessed property valuation.
The rate increase passed unanimously, with Councilman Tim Hauber absent from the meeting.
The cumulative capital development fund is used for major capital purchases like police cars and garbage trucks. Council President John Gilkey said the council has received requests from its police and street departments for several new vehicles, including a garbage packer that will cost “a couple hundred thousand dollars.”
...
http://newsandtribune.com/business/x44821250/Clarksville-Town-Council-raises-rate
