Community discussion of Bloomington mayor John Hamilton’s proposed increase to the countywide local income tax (LIT) has not included much mention of category of LIT called the “certified shares” category.
But the certified shares category makes up the biggest part of the current countywide local income tax rate. It’s the green chunk of the bars in the chart that accompanies this article.
The certified shares category has a current rate of 0.9482 percent.
For Monroe County, the total current LIT rate is 1.345 percent, which comes from adding an additional 0.25 points in the public safety category, 0.0518 points in the property tax relief category, and another 0.0950 points in a special purpose category. The special purpose LIT revenues are used for juvenile services.
It’s the certified shares category of LIT that many other units of local government rely on for some of their basic operating expenses.
Among those units are all the townships, the Monroe County Public Library, Bloomington Transit, and the Monroe Fire Protection District. Continue reading “Local income tax notebook: Impact on public library, public bus depending on distribution method”