Please read the below statement from Mayor Joshua Marsh:
In recent discussions with Reedy Financial, we had the chance to review the Cumulative Capital Fund and its tax implications for the people of Greensburg. Managing our growth and demand for amenities requires fiscal responsibility, which is why the City hired Reedy Financial to provide us with financial counsel so we can make reasonable decisions. The Cumulative Capital Fund or the associated rate is not new to the City- it is something that we have had for decades, and was last assessed around 2016. Reedy informed us that the tax associated with the Cumulative Capital Fund does not rise past a certain percentage point, even when our assessed value rises- it is capped by the State at a very low percentage. Raising that tax would have a minimal impact- $00.0057 per $100 of assessed value a year. However, even knowing the price would be small, and after discussions with our analysts and the Council, we have removed the public hearing from the Council’s agenda. It might be appropriate or even necessary in future years, but not at this time. The Public Hearing and discussion on tonight’s agenda will be canceled.