(A) A need now exists to modify the lit rates imposed in the following way:
Allocation Rate Category | Existing LIT Rate | Proposed LIT Rate |
Certified shares (I.C. 6-3.6-6) | 1.40% | 1.40% |
Public safety (I.C. 6-3.6-6) | 0.25% | 0.60% |
Economic development (I.C. 6-3.6-6) | 0.25% | 0.50% |
Property tax relief rate (I.C. 6-3.6-5) | 1.18% | 0.35% |
Special purpose rate (I.C. 6-3.6-7-18) | 0.30% | 0.00% |
Total Rate | 3.38% | 2.85% |
Property Tax Credit Allocation Categories (I.C. 6-3.6-5-6) | Existing Percent of Revenue | Proposed Percent of Revenue |
All property tax allocation categories | 84.7458% | 71.428(5% |
1% allocation type homesteads eligible for a credit under I.C. 6-1.1-20.6-7.5. | 15.2542% | 28.5714% |
(B) The Public Safety allocation identified above includes revenue associated with an expenditure rate to be authorized for the purposes of funding the county's public safety access point (“PSAP”) (emergency-911 dispatch), pursuant to County Res. 2020-07, to be adopted concurrently with this section. The revenue associated with this rate shall be directed to the PSAP prior to the distribution of the remainder of the public safety revenue.
Allocation Rate Category | Existing LIT Rate | Proposed LIT Rate |
Public safety (I.C. 6-3.6-6) | 0.25% | 0.60% |
Local Income Tax Type | Existing PSAP Rate | Proposed PSAP Rate |
Public safety access point rate | 0.00% | 0.30% |
(C) The expenditure rate includes a rate associated with a levy freeze rate previously imposed under the former local option income tax statutes.
Allocation Rate Category | Existing LIT Rate | Proposed LIT Rate |
Certified shares (I.C. 6-3.6-6) | 1.40% | 1.40% |
Local Income Tax Type | Existing Rate | Proposed Rate |
Levy freeze rate | 0.40% | 0.40% |
(D) A public hearing was held on the proposed LIT rate modifications on August 10, 2020. Proper notice of the public hearing was provided pursuant to I.C. 5-3-1. The modifications to the LIT rate imposed in the county became effective January 1, 2021.
(E) It is currently the intention of the Council to fund the aforesaid public-works project fully with a debt-service property-tax levy, the Council may revisit use of the aforesaid public works LIT rate in the future.
(F) Copies of this section shall be filed with the state’s Department of Local Government Finance, the County Auditor, the County Assessor and the offices of all taxing units within the county.
(Council Ord. passed 10-14-2019; Council Ord. 2020-05, passed 8-10-2020; Council Res. 2020-07, passed 8-10-2020)