AN ORDINANCE adopting the state formula to determine the Tax Levy for 2008
I've been trying to figure out what this ordinance actually is but I haven't been able to obtain a copy yet. However, I've been told that this bill will consider possible changes to the 2008 levy. Readers might remember that this was already voted on by the previous council and they passed a flat budget despite the objections of the Richard administration which hoped to get a 4% increase. I sided with the Richard Administration in that debate (here and here) because the money the council eventually cut was earmarked to pay down the city's massive pension debt.
It now appears that the Richard holdovers might be positioning themselves for a do-over with the newly elected council. It also looks like their request to change the levy will somehow be tied to passage of Governor Daniels' property tax solution (House Bill 1001) which, if passed, could lower local revenues.
I was told that the ordinance will only be read in tonight and will not be up for discussion. I'll try and keep you posted but this is one to keep an eye on...