The Marshall County Commissioners will move forward with a recommendation from Umbaugh, the county’s financial consultants to reestablish the tax rate in the Cumulative Capital Development Fund.
In April, Umbaugh presented the Comprehensive Financial Plan. It was noted that the CCD fund’s current rate was $.0169 and it could be increased to $.0333. The fund has been at the lower rate for at least the last four years.
It was noted that the rate drops each year on the CCD fund and the Commissioners are the ones empowered to reestablish the rate. Raising the rate to the maximum could generate an additional $400,000 of additional tax dollars.
At the end of 2015, the ending cash in the CCD fund was $947,000.
With the August 1st deadline beginning to creep closer the commissioners, at their meeting Monday set a public hearing for 10 a.m. on June 6th to reestablish the rate at the maximum.
