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Last updated on Wednesday, April 18, 2012
(BEDFORD) - Lawrence County Auditor Billie Tumey has received detailed information from the state regarding the under-distributed tax funds from 2011 and from January through April.
Bob Bridge, of the Times-Mail, reports the windfall, amounting to more than $1.1 million, does not include interest earnings.
State officials explained the miscalculation transpired as result of a misapplication of estimated payments. The State Budget Agency discovered the error as the disparity between the collections (the quarterly report) and distributions (county statistical report) began to grow. Statewide, local governments will receive $206 million in makeup tax payments, plus interest.
The money will be distributed, as designated by the state, to nine county townships, the municipalities of Bedford, Mitchell and Oolitic, plus North Lawrence Community Schools, Mitchell Community Schools, public libraries in Bedford and Mitchell, and the county's solid waste district.
Tumey said the county's portion will be directed to the general fund. The county receives $155,444.02 in County Adjusted Gross Income Taxes (CAGIT) funds, $27,316.54 in Property Tax Replacement Credits, and $61,000 in Public Safety Funds for 2011. The totals for 2012 in those same funds are $205,003.81, $36,611.51 and $77,859.52.
Bedford receives $119,800.77 for CAGIT, $26,174.93 in PTRC and $47,050.32 for safety in 2011. The totals for 2012 in those same funds are $160,709.18, $35,881.43 and $61,036.60.
Mitchell's windfall is $18,576.89 in CAGIT, $4,058 in PTRC, and $7,295.85 for safety in 2011. The totals in 2012 are $25,307.97, $5,650.57 and $9,611.96.
NLCS gets $33,598.52 in PTRC for 2011 and $43,393.93 in 2012. MCS receives $13,073.56 in 2011 and $16,874.71 in 2012.
Township amounts vary. For example, Marion's total for 2011 and 2012 amounts to $7,840, while Bono's is $810.
Details of the distribution amounts are available by clicking on this link.
Tumey said taxpayers also can anticipate property tax credits in 2013.
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