Mayor Jim Coppinger formally presents his property tax plan to Hamilton County Commission this morning.
The plan calls for the commission to keep the existing property tax rate in place, which will bring in an additional $25.5 million to put towards borrowing $180 million for capital education, economic development, public safety and infrastructure projects.
"I truly believe we are at the crossroads with education and economic development, and I think this is the right thing to do to keep this county moving ahead," Coppinger said during a courthouse law press conference on Tuesday.
In June, the Hamilton County Commission approved a $691.5 million budget for fiscal 2018 based on adopting the certified rate, which was not available at the time.
The law requires the commission to adopt the state-certified millage rate of 2.4976 mills to keep the county's revenue level. The county's recent property reappraisal saw increased values, which would result in more revenue if the existing rate remains in place.
However, the commission does not have to leave the property tax rate at the lower certified rate. Resetting it to the existing rate equates to a 26.76-cent increase of the certified tax rate.
Commissioner Joe Graham has said the measure is "the right thing to do" and argues it is not an actual tax increase.
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