Hamlet residents may see a slight property tax increase, following action by the town council Wednesday. Council members voted to reestablish the town’s cumulative capital development fund at its maximum rate of five cents per $100 of assessed valuation. That’s up from just under four cents now, according to Clerk-Treasurer Kristina Pitts.
“It dwindles just a little bit each year,” she explained, “and then if you don’t renew it after so many years, they just quit giving it.”
She said the increase is estimated to bring CCD Fund revenues up to almost $8,000 a year. They’d fallen to $5,500 in 2021. The fund has typically been used to help with fire department expenses. Hamlet will pay accounting firm Baker Tilly up to $1,500 for its help with the reestablishment process, using money from the CCD Fund itself.
No objections were raised during a brief public hearing Wednesday. The increase would take effect on 2021 taxes payable in 2022. It now goes to the Indiana Department of Local Government Finance for final approval.
