LOIT - (local option income tax)

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RESOLUTION NO. 3 ~ 1 ~ _~ 1 A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, PROPOSING AND VOTING IN FAVOR OF AN ORDINANCE OF THE ST. JOSEPH COUNTY INCOME TAX COUNCIL IMPOSING A PROPERTY TAX RELIEF LOCAL OPTION INCOME TAX WHEREAS, the Common Council of the City of South Bend, Indiana recognizes that property tax relief is in the public interest of the City of South Bend, Indiana; and WHEREAS, the Indiana General Assembly recently authorized local governments to impose a property tax relief local option income tax for the purpose of providing local property tax replacement credits at a uniform rate to all taxpayers in the City of South Bend, St. Joseph County, Indiana (I.C. § 6-3.5-6-32(f)(1)); and WHEREAS, it is in the best interest of the City of South Bend to adopt a property tax relief local option income tax for the purpose of providing local property tax relief credits at a uniform rate to all taxpayers in the City of South Bend, St. Joseph County, Indiana. NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE CITY OF SOUTH BEND, INDIANA, as follows: SECTION I. The Common Council of the City of South Bend, Indiana, proposes and casts its 40.59 votes in favor of the following Ordinance of the St. Joseph County Income Tax Council: AN ORDINANCE OF THE INCOME TAX COUNCIL OF ST. JOSEPH COUNTY, INDIANA IMPOSING A PROPERTY TAX RELIEF LOCAL OPTION INCOME TAX IN ST. JOSEPH COUNTY, INDIANA STATEMENT OF PURPOSE AND INTENT The St. Joseph County Income Tax Council (Council) acknowledges that property tax relief is in the public interest of St. Joseph County, Indiana citizens. The Indiana legislature in 2007 provided a mechanism under Ind. Code § 6-3.5-6-32 (amended in 2008) to grant property tax relief by imposing an income tax, the revenue from which is available for local property tax replacement credits at a uniform rate to all taxpayers in the County. The