The Plymouth City Council members approved additional readings Monday night on an ordinance that would re-establish the Cumulative Capital Development Fund.
The tax will be levied on all taxable real and personal property within the taxing district and will not exceed $0.0500 per $100 of assessed valuation beginning with taxes payable in 2024 and thereafter.
The tax would continue until reduced or rescinded.
The proposal for the re-establishment will also need approved by the Department of Local Government Finance.
The second reading of the ordinance was approved with a unanimous vote, as well as the third reading.
