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City of La Grange proposes Compensation Tax
On Monday, May 6, the LaGrange City Council introduced an ordinance on a Compensation Tax for employees in the City of LaGrange. This was a first reading and did not permit public comment on the issue. The second reading and public hearing are scheduled for the next City Council meeting to be held on: Monday, June 3, 2013 at 6:30 p.m. in the Oldham County Fiscal Courtroom.
The ordinance would implement a 1% tax on employees working in the city limits of Lagrange. All proceeds will go to pay the debt on Oldham Reserve. When the debt is paid off (which is expected to be done within 15 years through a combination of private partners and the compensation fees), the tax will be eliminated.
The Chamber has created a brief white paper on the issue and you can access it HERE. The public policy/executive committee will be meeting soon to discuss the issue.