Burns Harbor to start process to raise cumulative capital development fund to 5¢

At the meeting, councilors agreed to begin the formal process to reestablish the cumulative capital development fund (CCD) and request an increase from the current 4¢ to 5¢ per $100 of assessed valuation.

Clerk-Treasurer explained the statutory process: publish notice to taxpayers, conduct a public hearing and adopt a resolution or ordinance, publish notice of adoption, allow a remonstrance period for taxpayers to challenge the change, and submit the request to the Indiana Department of Local Government Finance (DLGF) on or before May 31 for inclusion in the town budget.

Council directed the solicitor to draft an ordinance reflecting the new 5¢ request and asked staff to move the matter forward in March so readings, notices and timelines can meet statutory deadlines. Officials noted the CCD funds are used for capital purchases such as bunker gear and fire apparatus and emphasized the need to complete the process in time for DLGF review.

Members also raised broader fiscal concerns about the possible expiration of the local income tax (LIT) in 2027 and the need to monitor county-level decisions affecting LIT continuation or replacement; staff said they would follow up with the county budget director for clarity by midyear.