Kosciusko County Commissioners discussed re-establishing, and possibly doubling, the cumulative capital development tax rate to help maintain the county’s roads. On June 3, they introduced an ordinance that may double the cumulative capital development tax rate.
Commissioners are proposing to re-establish the CCD rate to $0.0333 per $100 of assessed value of real and personal property, beginning with taxes payable next year. The current CCD rate is $0.0135.
The new rate, the maximum allowed by the state, was one of several recommendations made by H.J. Umbaugh and Associates, the county’s financial advisor.
If CCD is re-established, the county could generate approximately $996,000 of additional revenue a year. The rate can be established at any amount the commissioners chose under the $0.0333.
While no action was taken at Tuesday’s meeting, a notice will be published in area newspapers, said County Attorney Chad Miner. At the next meeting at 9 a.m. June 17, commissioners will discuss the proposal at a public hearing before taking any action. H.J. Umbaugh and Associates suggested the ordinance be presented at the June 3 commissioners meeting.