From the Shelbyville News:
The Morristown Town Council voted to create a new property tax Wednesday.
The tax ultimately will require Morristown residents to pay about another 5 cents per $100 of assessed valuation each year. The tax will start off at about 2 cents per $100 for the first year, then increase to 3 cents for the second year and cap at 5 cents from then after.
Clerk-Treasurer Don Roberts said that the new tax might raise $20,000 total in the first year and $35,000 the third year and beyond for the town.
After some discussion with the few Morristown residents who are regulars at the town council meetings who showed up for a public hearing on the tax, the council voted 3-0 in its favor.
"No. 1 is, we don't know how long (Indiana Downs) is going to be around," council member Mike Freeman said of concerns the town's leaders have about revenue in the future. The town currently earns a percentage of the taxes paid by Indiana Downs and its partner casino, Indiana Grand.
The money will go into a capital fund that the town had plans to use for a new fire station.
The town also made a final vote, 3-0, on a plan to raise garbage collection user fees from $6 to $6.50 because the actual cost to collect the garbage is $6.50.
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http://www.shelbynews.com/articles/2012/07/27/news/doc50119c299a538513193203.txt
