Hearing on Proposed Local Income Tax Ordinance #2019-15

HEARING ON PROPOSED LOCAL INCOME TAX ORDINANCE #2019-15

Notice is hereby given to the taxpayers of PARKE COUNTY, Indiana, that the PARKE COUNTY COUNCIL will consider at the EMERGENCY OPERATIONS BUILDING AT 110 E. Ohio St., Rockville, IN at 9:00 o’clock am on September 12, 2019, the following proposed ordinance regarding the local income tax imposed within PARKE COUNTY.

Allocation Rate Category                            Existing LIT Rate          Proposed LIT Rate                                                                              

Certified Shares (IC 6-3.6-6)                                          1.65%                                       1.56%

Public Safety (IC 6-3.6-6)                                               0.25%                                        0.25%

Economic Development (IC 6-3.6-6)                              0.25%                                        0.34%

Property Tax Relief Rate (IC 6-3.6-5)                            0.50%                                        0.50%

Special Purpose Rate (IC 6-3.6-7-__)                               0%                                               0%

Correctional or Rehabilitation Facilities

(IC 6-3.6-6-2.7)                                                              0%                                               0%

APPLICATION OF PROPERTY TAX RELIEF BETWEEN ALLOCATION CATEGORIES

Property Tax Credit                            Existing Percent of             Proposed Percent of

Allocation Categories                                   Revenue                                    Revenue

       (IC 6-3.6-5-6)                                                                              

All Property Tax Allocation Categories                         50%                                            50%

1% Allocation Type:

Homesteads eligible for a credit under

IC 6-1.1-20.6-7.5.                                                          50%                                            50%

2% Allocation Type:

Residential property, agricultural land, long

care property, and other tangible property

eligible for a credit under IC 6-1.1-20.6-7.5                  0%                                             0%

3% Allocation Type:

Nonresidential real property, personal property,

and other tangible property eligible for a credit

under IC 6-1.1-20.6-7.5                                                 0%                                             0%

Residential property, as defined in 6-1.1-20.6-4              0%                                             0%

FOR LEVY FREEZE COUNTIES ONLY

The expenditure rate includes a rate associated with a levy freeze rate previously imposed

under the former local option income tax statues.

Allocation Rate Category                            Existing LIT Rate          Proposed LIT Rate                                                                              

Certified Shares (IC 6-3.6-6)                                          1.00%                                    1.00%

The levy freeze rate after adoption will be as follows:

Local Income Tax Type                                          Existing Rate          Proposed Rate                                                                              

Levy Freeze Rate                                                                 0.65%                                    0.56%

After the public hearing, the PARKE COUNTY COUNCIL may take action on the proposed

ordinance. There is no remonstrance opportunity on any action taken on the proposed ordinance. The public hearing identified above is the taxpayer’s opportunity to express

concerns and ask questions on the proposed ordinance.

Dated this 5th day of August, 2019.

PARKE COUNTY COUNCIL

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