The Knox County Commissioners have approved a re-allocation of existing tax funds for the County’s Cumulative Capital Development fund. The action happened in a special public session at the Vincennes Pantheon Business Theatre. The vote was 2-1 in favor, with T-J Brink voting against it.
The levy will give the maximum allowed 33.3 cents per hundred in assessed property tax value to the fund. That is a raise from the current rate of 1.6 cents per hundred. Commissioner Trent Hinkle favored the levy change; he feels it gives more money to the County at little or no cost to the taxpayer. Commissioner Brink opposed the change. He feels the current level of the C-C-D levy is sufficient.
The Commissioners can change the tax levies for the County’s property taxes, but can’t change the actual property tax rate itself. Any rate changes must come from the County’s fiscal body– the Knox County Council.
