Medora re-establishing cumulative capital development fund



A cumulative capital development fund has been re-established in Medora.

During a recent meeting, the Medora Town Council conducted a public hearing to give people a chance to speak in favor of or against it.

The first reading of an ordinance was held during the May meeting, and after no one spoke in favor of or against during the public hearing June 8, the second and final reading received unanimous approval.

Town attorney Matt Lorenzo said the property tax rate increase will be 5 cents for every $100 of assessed valuation.

The town now has to publish a notice of adoption to the affected taxpayers within 30 days after the date of adoption in two newspapers. That begins a 30-day remonstrance period for the taxpayers affected by the cumulative fund.

Taxpayers may file an objection petition with the county auditor no later than noon 30 days after the publication of the notice of adoption setting forth their objections to the proposed fund.

The county auditor must immediately certify the objection petition(s) to the Indiana Department of Local Government Finance by verifying:

The number of taxpayers on the petition and counterparts who are property owners within the taxing district(s) where the proposed cumulative fund will be levied

The proper number of qualified signatures appears on the petition and counterparts

The petition(s) was filed within the proper number of days after the publication of the notice of adoption

If a petition is certified by the county auditor to the DLGF, the department must fix a date for a hearing within a reasonable time after receipt of the objection. Notice of the hearing, under the signature of the commissioner of the department, must be given to the county auditor and the first 10 taxpayers whose names appear on the petition at least five days before the date of the hearing.

A hearing will be conducted in the county by a hearing officer of the department, at which time all affected taxpayers will have the right to be heard. Testimony will be accepted from those in opposition to and those in favor of the proposed cumulative fund. The hearing officer will then submit a report on the hearing to the DLGF commissioner.

The DLGF must certify approval, disapproval or modification of the proposal to the county auditor. The action of the department with respect to the proposed fund is final.

If Medora receives approval for the fund, the money generated will help town officials make capital purchases, including infrastructure, vehicles and equipment.

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