The Pulaski County Council will continue working on adjustments to the county’s tax structure during a special meeting tonight.
Last week, council members voted six-to-one to pursue an option that would lower the county’s overall local income tax rate from 3.38 to 2.85 percent. But it would also increase the property tax rate and bring in more than a half a million dollars in additional revenue for the county.
The way it would work is that it would lower the amount of income tax revenue going to property tax relief, while increasing the amount going to the “expenditure” category. What still needs to be decided is how to balance the amount of income tax directed to economic development and certified shares. More economic development income tax would benefit the county but exclude the libraries from that portion. The certified shares income tax also goes to libraries but would also direct money to townships, which some county officials felt didn’t need the extra revenue as much.
The proposal also calls for bond payments on the planned courthouse renovation and justice center expansion to be paid for with property tax revenues, rather than an extension to the county’s special income tax that was permitted by the state.
Even if a consensus is reached tonight, the county council would still have to hold a public hearing before making a final decision. Tonight’s special Pulaski County Council meeting starts at 7:00 EDT in the Pulaski County Highway Garage. Council members are also expected to continue discussing the 2021 budget tonight.
