Bloomington Mayor John Hamilton wants to increase the tax rate for the city’s Cumulative Capital Development fund to repair and maintain city sidewalks and trails.
The current rate is 4.8 cents per $1,000 of assessed value and generates $1.7 million in annual revenue. Hamilton wants to increase it to 5 cents per $1,000 — the maximum rate that the Indiana Legislature allows and the rate the city had before. The increase is expected to raise an additional $100,000 per year.
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