The Department of Local Government Finance (DLGF) reached a final determination about the proposed tax increase that would help reestablish the Marshall County Cumulative Bridge Fund. In a document provided to the Marshall County Commissioners Monday morning, DLGF officials stated that after weighing the available testimony and evidence they found no legal basis for denying the proposed fund reestablishment.
Commissioners initially approved the increase back in March. However, after at least ten residents signed a petition objecting to it, DLGF representatives held a public hearing and looked over all relevant information to assess the apparent necessity.
After a thorough investigation, they indicated they were not persuaded by the objectors and gave the go-ahead to proceed. This will be the first increase to the fund in 14 years.
With the Department’s blessing, the existing bridge fund tax rate will be raised to approximately five cents ($0.0524) per one-hundred dollars of assessed valuation. As previously reported, it will result in an increase of about $26.20 for the average taxpayer.
In the past, County Auditor Julie Fox shared that the fund was initially established in the 1980s with a much higher rate of twelve cents. She said it fluctuated and continued to decrease gradually over the years and as of 2018, it was at about two cents ($0.0260).
One of the biggest concerns that officials had throughout this process was not having enough funds to make necessary repairs to county bridges to ensure public safety. They anticipated a huge deficit in the fund as early as next year if more money could not be generated for that purpose.
Though the rate is not at its maximum level, it is expected to help bring in $660,000 next year to assist with repairs and maintenance to all 117 bridges throughout the county.
Auditor Fox noted that even though they received word of the approval in June, the increase won’t be implemented until the 2019 tax season.
