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Council weighs hiring Baker Tilly for long-term fiscal analysis as state tax rules change
Summary
Facing major state changes to local income tax and property tax rules phased through 2031, the Vermillion County Council reviewed engagement letters from Baker Tilly for a fiscal sustainability plan and LIT analysis; consultants recommended parcel-level scenarios and capital-planning guidance before 2027 budget deadlines.
Council members spent an extended portion of the June 8 meeting discussing proposals from Baker Tilly for two engagements: a fiscal sustainability (long-term financial and capital planning) study and a local income tax (LIT) analysis to model several allocation options under impending state-level law changes.
Jason, a Baker Tilly consultant, described sweeping state reforms that will alter local income tax structure, shift exemptions and phase certain property-tax changes through 2031. He recommended a two-part engagement: parcel-level modeling to project assessed-value and revenue scenarios through 2031, and a capital-improvement/long-term financial-plan that would allow council leaders to test pay-as-you-go, borrowing or mixed funding approaches for major projects. The consultants suggested producing multiple scenarios, including conservative baselines and optimistic versions that assume large new investments (recent and anticipated projects in the county were cited as variables) so elected officials can evaluate personnel and capital decisions against several revenue paths.
Council members supported sending the engagement letters to the Board of Commissioners for their review; staff said some funds are available in the riverboat fund but a partial additional appropriation might be needed and commissioner approval of contracts will be required. The consultants proposed producing draft revenue estimates by July'August so the county could use them in the 2027 budget cycle.
Council members emphasized the analysis's practical value for decisions like pay raises, capital projects and maintaining public-safety funding and encouraged scenario-based results rather than single-point forecasts. The council agreed to transmit the materials to the commissioners for action and to pursue the engagement if commissioners approve contracting and budget adjustments.
