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Burns Harbor to start process to raise cumulative capital development fund to 5¢
Summary
Council authorized staff to begin the legal steps required to reestablish the town's cumulative capital development fund and seek an increase from 4¢ to the statutory maximum 5¢ per $100 assessed value; next steps include public notice, public hearing, and submission to DLGF by May 31.
At the meeting, councilors agreed to begin the formal process to reestablish the cumulative capital development fund (CCD) and request an increase from the current 4¢ to 5¢ per $100 of assessed valuation.
Clerk-Treasurer explained the statutory process: publish notice to taxpayers, conduct a public hearing…
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