Wednesday, June 03, 2015

Wayne County may ask taxpayers to shore up pension fund

Wayne County may ask taxpayers to shore up pension fund:
"Several Wayne County Commissioners on Tuesday pushed back against a plan to levy a one-time property tax assessment as part of residents' summer tax bills to cover $49 million owed to the employee retirement system.
Taxpayers would have to pay the amount unless the county can find another source for the funds.
But the majority of commissioners clearly stated their opposition to a tax increase during a committee meeting, meaning the money will likely be pulled from the Delinquent Tax Revolving Fund.
The fund is used to provide communities with delinquent tax money that has not yet been collected. The treasurer's office borrows money to cover what is needed and then takes over the collection of the delinquent taxes."

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