(A) The town’s Cumulative Capital Development Fund and maximum tax rate of $0.05 per $100 of assessed valuation is hereby reestablished for the town.
(B) The Cumulative Capital Development Fund shall be funded, each year, by levying a tax, in compliance with I.C. 6-1.1-41, on the taxable property in the town at the maximum property tax rate of $0.05 per $100 of assessed valuation, as authorized by and pursuant to I.C. 36-9-15.5-6(b), beginning with taxes assessed in 2022, payable in 2023.
(Ord. —, passed 6-18-2013; Ord. 2022-02, passed 4-6-2022)