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Last updated on Wednesday, July 29, 2009
(LAWRENCE COUNTY) - By a vote of five to two the Lawrence County Council passed the motion to adopt the Local Option Income Tax to help relieve county and city-wide shortfalls.
Taxes will not be raised up to 1.25%, the previous estimated amount, but rather .75%.
Originally, the council estimated that taxes could be raised by possibly 1.25% with .25% going towards public safety and the remaining 1% to go towards the reduction of county property taxes.
With the new .75% increase, .25% will still be used as new money for public safety and the remaining .50% will help with reduce property taxes.
The council estimates that with the new decision made, Lawrence County can expect 3.8 million dollars in property tax relief credit.
Council president Keith Dillman and Steven Flores voted against this version of the Local Option Income Tax; LOIT was originally recommended to the council by the budget committee.
Learn More Information About LOIT: Click here
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