Ellettsville To Up Property Taxes In Search Of Budget Fix

The Ellettsville Town Council has unanimously voted to request the re-establishment of the town’s Cumulative Capital Development Fund.

money

Photo: 401K 2012 (Flickr)

An increase from three cents per $100 of assessed property value to five may help the town of Ellettsville settle its budget problems.

Depending on a decision from state officials, Ellettsville residents may have to pay a property tax of up to 5 cents for every $100 dollars of assessed property value.  The previous rate was 3 cents per $100.

Town Council President Scott Oldham says the additional revenue is necessary because the current fund is unsustainable.

“Those monies have to come out of the general fund of the budget which in turn now impacts other areas in potentially services to be rendered or in worst case scenarios the employment of the current workforce,” Oldham says.

The Cumulative Capital Development Fund’s rates have gone down since 2002 as assessed value on property has gone up. Money diverted to the fund may only be used to improve, maintain, or build public infrastructure or equipment. Only two Ellettsville residents attended the hearing and both declined to comment on the council’s decision.

Kyle Clayton

Kyle Clayton is a WFIU news producer. He is currently studying journalism at Indiana University and comes to WFIU following an internship in the fall of 2011. After serving in the U.S. Army, he returned home to Indiana in 2008 to begin his education and pursue his interests in writing.

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