02-24-2026 Council [46:40-51:43]

So if it passes, you're going to have a lot more control than how the current language is written. So that's actually a good piece, hopefully that will pass in this legislative session, but that's a 34% maximum rate. Not invisible, that's the libraries and the townships. And I've got to tell you there's a lot of libraries and townships that are dependent on the local income tax. So trying to determine the appropriate rate is going to be very important for that. Municipalities with population less than 3500, that's under your warehouse. I don't know if you have any here, I think you probably do, but I'm sure you do. There should be some smaller ones. Move a drop out, one full weight, but then it gets divided out among the municipalities based on their population. It's not 1.2% for each of those smaller municipalities. It's 1.5 to 1.2%. That's what I'm saying. An analysis is going to be very beneficial because they've moved aside five percent as enough to go to those. So that's why it's going to take some analysis. The water in this house, like that, they can adopt their own at 1.2%. The middle of the social purpose rate, so we made it. We don't have that in the county. That's where we'll get social legislation for like a jail, or something like that. So we can sort of do that. Something important to know also is that the current rate structure is still here until the end of the 27th or 28th. So we can still make changes to the current rate if you wanted to. That's up to you. I know some counties are doing that just to try to get some additional dollars for public safety or whatever while they still can. But again, it would be temporary because it's going to be exciting for that to end in 27th or 28th. Okay. Moving on to page number seven. I've already talked a little bit about company tax caps and why that's an issue. And so, really, I think the message is because of this company tax relief bill, so that no one really needs to start thinking about other types of revenue sources. So that would be fully utilizing your maximum money, taking the full amount, considering bond issues for large capital projects, and being able to promote and manage the sustainable society, but it's not really just bringing in economic development where it's feasible, because we know that growing your own society is what's going to help you limit the cost of the playhouse in the long run. And that's in September, and I completely realize that strategic use of non-profit tax revenues like income tax, grants, and fees. I don't know when the last time you did like a user fee analysis, that some counties will do that periodically to see if they're charging enough for our building permits, or whatever services is provided. And I realize that doesn't generate a lot of revenue, so we've got to try to look at any revenue source that would... Moving on to page eight. Now we're getting into really this financial plan and just going to update a new one on what we're finding. So on page eight is showing you in blue, new actual and estimated company tax collections. So for instance, in 2025, you've received it in about 10.2 million of company tax. Now you've reviewed 10.8, but you didn't collect all of that because 635,000 was returned to taxpayers in the form of credit. So just kind of following that blue bar alone, you see it's going to go down in 2026. And your company tax revenue overall is going to go down in 2026 to 9.4 million. Then go up in 10.5 and 2027. There, we've got change in 2028 to 10.519. And then in 2029, 11,000. I'm sorry, 11.9 million. So what is it like the bottom line? Very little to no change in problems such as revenue, a natural primary funding source, basically. So just keep that in mind as you go forward as far as budgeting. And that's one thing we obviously want to help you with is estimating your revenues for 2027, waiting for the budget season. And I think if we can get those 2026 numbers and work it into a model that we're going to have some very good estimates for later, for all in the day. That'll be perfect as you go into the budget season. Because you need to know how much revenue do you have to budget.