Argos Town Council members passed an ordinance last Wednesday that will re-establish the Cumulative Capital Development rate at .5.
According to Clerk-Treasurer Lisa Mullaney, a public hearing over the proposed rate adjustment was advertised twice in the local newspaper. The hearing was held prior to the council’s regularly scheduled meeting last Wednesday. No public comment was provided about the matter.
Mullaney emphasized that the CCD tax is something residents pay each year and that it is in no way new.
She noted that that the rate does decrease over time so most municipalities pass a measure every five years or so in order to bring the CCD rate back up. This allows them to keep it at a level that will bring in a sufficient amount of money for capital investments.
The council members decided to suspend the rules at their meeting last Wednesday and passed the CCD rate adjustment ordinance on all three readings.
Mullaney noted that there will be a 30 day remonstrance period after the notice is published on March 1st where residents will have a chance to voice any grievances that weren’t provided during the public hearing. After those 30 days are up, the ordinance will go into effect.
