The Marshall County Commissioners approved additional readings to the proposed ordinance that reestablishes the Cumulative Capital Development Fund at its maximum rate at $.0333 per $100 of assessed valuation.
No additional comments were made concerning the details of the ordinance. The second and third readings were unanimously approved.
County Attorney Jim Clevenger said the next step is to notify the taxpayers of Marshall County that the ordinance was adopted and that an increase will occur in the Cumulative Capital Development Fund. The notice will be published as required. Taxpayers then have 30 days to file an appeal. All required paperwork will be delivered to the Department of Local Government Finance for consideration and approval.
The increase in the rate will help gather funds to assist in financing capital costs for the highway department. The approximate amount of money that will be generated with this tax increase is $412,000 with $320,000 already spoken for by the highway department for equipment purchases and leases. The remainder of the money will be used for software and other needs as the county sees fit.
