Starke County Council members voted unanimously to reestablish two funds that were somehow discontinued by the state. Monday’s action on the cumulative capital development and cumulative bridge funds will allow the county to keep more of the property tax money it collects and spend money that is currently set aside. Council President Dave Pearman hopes this will soften the blow for the county when budget time rolls around.
“We have a cume cap currently that keeps building. We’ve always had it, it’s just we haven’t added anything to it because the state dropped it off on us. What I will say is that if we decide we don’t want to approve this, then we need to cut the budget by $350,000,” Pearman said.
Funds in the cumulative capital development account can be used to buy things like police cars or computers. Money in the bridge fund can only be used for inspections or to build, maintain or repair bridges, approaches or grade separations. The council still has to set rates for both funds, but they will be in the range of 2.5 to 3-cents per $100 of assessed property valuation. County residents now pay less than 40-cents per $100 of assessed valuation. Rates vary by taxing district. Click here to view the Tax Rate Chart for the year 2013 payable 2014