Proposing and voting in favor of a ordinance of the St. Joseph County Income Tax County Income Tax Council Imposing a property tax relief Local Option Income Tax

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Joseph County citizens who will have overall reduced property taxes. The St. Joseph County Tax Council determines the best estimate of the property tax credits to be provided to all property taxpayers as a result of this ordinance is as follows: Homesteads: $23,034,000 Other residential property: $6,931,000 Industrial property: $3,607,000 Agricultural property: $641,000 Commercial property: $12,204,000 NOW, THEREFORE, BE IT ORDAINED BY THE ST. JOSEPH COUNTY, INDIANA INCOME TAX COUNCIL, as follows: SECTION I. The St.. Joseph County Indiana Income Tax Council hereby imposes a property tax relief local option income tax (LOIT) at the rate of One Percent (1%) pursuant to Ind. Code § 6-3.5-6-32 for the purpose of providing local property tax replacement credits at a uniform rate to all taxpayers in St. Joseph County, Indiana, as provided by LC. 6-3.5-6-32(f)(1). SECTION II. The St. Joseph County Indiana Income Tax Council also acknowledges that some taxpayers in St. Joseph County who do not pay the tax rate imposed by this ordinance will receive a property tax replacement credit that is funded with tax revenue from the tax rate under this Section. SECTION III. If any portion of this Ordinance is declared to be unconstitutional or invalid for any reason, such determination shall not affect the remaining portions of this Ordinance. SECTION IV. This Ordinance shall be in full force and effect from and after December 31, 2008 upon its passage by the St. Joseph County, Indiana, Income Tax Council. ****~=~ SECTION II. This Resolution shall be in full force and effect from and after its adoption by the Common Council and approval by the Mayor. ~i~0~1 !~; fief"k'~ Offi~e i,~~'~' 2 5 2G08 JOrP! VSO BEND, tN. C1TY Ct~~:~~, South Bend.Common Council