Published: July 08, 2008 11:48 pm            

Peru city council backs county council on LOIT

PERU — In a show of support for Miami County Council, the Peru Common Council unanimously passed a resolution supporting adoption of a 1.25 percent local option income tax.

The Miami County Council is scheduled to vote on beginning a 1.25 percent LOIT at its July 16 meeting. The tax would be implemented Oct. 1.

“The county people are going to take the hit on this,” Peru Mayor Jim Walker said. “This is being forced upon us.”

Walker said city and county officials have previously tried to avoid passing taxes to keep more money in the pockets of county residents.

“We’re standing with the county on this,” he said. “We’re not happy we have to do this. But to continue to provide services there is no other choice.”

The Miami County Council is expected to adopt a .25 percent LOIT to fund public safety operations and a 1 percent LOIT to provide property tax relief and fund government operations.

As proposed, 0.3 percent would go to provide property tax relief for individual homeowners, 0.2 percent for rental properties and the remaining 0.5 percent to all other property.

The 1 percent tax is expected to generate $5.6 million and the .25 percent tax would generate $1.4 million.

During a public meeting on the proposed LOIT last week many county residents voiced opposition to the new tax and recommended governmental units reduce spending.

        

• Click to discuss this story with other readers on our forums.