Herald-Argus Reports LaPorte May Raise Tax Rate for Capital Development Fund

From the LaPorte Herald Argus:

The city of La Porte may raise the tax rate for its capital development fund to reap an extra $100,000 for roads and other community projects.

And the average increase to the taxpayer: $7.60 per year.

During a meeting of the La Porte City Council, members gave a first reading to an ordinance that will raise the maximum property tax rate for the cumulative capital development fund to five cents per $100 of property value.

The previous rate was 3.8 cents per $100.

La Porte Mayor Blair Milo said this is the maximum rate the city can charge, and is due to property value increases after the reassessment. She said the money goes toward paving roads and other capital projects in the city.

A public hearing on the increase will be held June 17. The council will vote on the ordinance at a later meeting.

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http://heraldargus.com/articles/2013/06/05/news/local/doc51ad439b6e611371770280.txt