Business and Economics

County Commission OKs Plan for New Tax

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October 17, 2013 — A new personal income tax took effect in Lake County, Indiana this month, and county officials are deciding where those funds will go.  The Lake County Board of Commissioners has approved a proposal about dispersing those funds to be used in 2014.

The new tax collects 1.5% of residents’ checks, which will go in part to economic development.

Lake County First District Commissioner Roosevelt Allen, Jr. says, “We adopted a resolution indicating how that money would be expended. Approximately $2-million of it will go to the County Council.  The County Council will be able to use it for any lawful purpose.  The remainder of the money has to be spent for capital improvements or for economic development functions.”

The Board of Commissioners confirms the County Council will have full discretion to determine how to spend those funds.

 

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