Action taken Wednesday by the Daviess County Council will result in a tax reduction for County residents in 2018.
When bonds were issued for the construction of the Daviess County Security Center a special .25% Local Option Income tax was implemented. At Wednesday’s meeting the Council voted to pay off the bonds10 years early and to notify the State to remove the tax from the County’s assessments.
Financial consultant Jason Semler of Umbaugh and Associates told the Council there would still be an approximate $25,000 shortfall by the October 31 deadline to change next year’s tax rate. Council President Mike Sprinkle suggested using non-taxpayer money from the County’s share of taxes from area casinos. Sprinkle said it was important to have the tax removed for 2018. The Council will hold a special meeting and public hearing to officially lower the tax rate. Officials are working to get the tax off of the books by January 1st.
Semler also discussed options of paying for the proposed Courthouse Annex project without depleting the County’s cash on hand. The Council took those options under advisement.
In other action…the Council also reviewed the APEXX tax abatement. Three months ago, the Council found APEXX to be non-compliant and gave them 90 days to pay all outstanding taxes. Finding that APEXX had complied, the Council today voted to continue the tax abatement.
Another County business is expanding and is seeking tax abatement on its new building. Maysville Enterprises said that GPC is increasing production and they will need another 60,000 sq. ft. warehouse, and will employ an additional four people. This is just the first step before the abatement can be granted.