An ordinance authorizing an increase in Boone County’s cumulative capital development fund levy will be discussed by the Boone County Council at a 9 a.m. Tuesday meeting.
The ordinance was approved on first reading by the Boone County Commissioners on June 2. It would allow the CCD levy to be increased to a maximum of 3.33 cents per $100 of net assessed valuation, on taxes determined in this year and payable in 2015. The ordinance must be approved a second time.
A public hearing on the proposed increase will be 9 a.m. June 16, in the Boone Office Annex, 116 W. Washington St., Lebanon. A second vote on the ordinance would be held then. Opponents would have until July 25 to file objections to the tax adjustment. County officials would have until Aug. 1 to file notice of the proposed increase with the Indiana Department of Local Government Finance
If the council chooses the maximum allowed increase, the CCD levy would rise by 2.08 cents next year. At that maximum level, the CCD fund levy would add an estimated $7.43 to the tax bill of a property with a $100,000 net assessed valuation.