The Marshall County Commissioners will consider re-establishment of the maximum rate for the Cumulative Capital Fund at their meeting on June 6th. It was noted in the Umbaugh long term financial report that the tax rate on this fund drops each year and the commissioners are the governing body established by state statue to set the rate.
The current rate is $.0169 and the proposal is to re-establish the rate at the maximum of $0.333 per $100 of assessed valuation on all taxable real and personal property within the taxing district.
The proposed fund will be levied beginning with taxes due and payable in the year 2017.
A public hearing is scheduled for 10 a.m. on Monday, June 6th. Taxpayers appearing at the hearing shall have the right to be heard. While the County Commissioners have the right to increase the tax rate the proposal is subject to approval by the Department of Local Government Finance.
Within 30 days after the date of the adoption of the cumulative fund by the Marshall County Commissioners, the County will publish a Notice of Adoption. Upon publication of the Notice of Adoption, 50 or more taxpayers in the taxing district may file a petition with the County Auditor not later than noon 30 days after the publication of the Notice of Adoption setting forth their objections to the proposed fund.
