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By KEVIN KOELLING
CANNELTON – The Cannelton Common Council voted at a regular meeting to adopt a cumulative capital development fund that will add five cents to property-tax bills for each $100 of assessed value.
Mayor Mary Snyder said the Indiana Department of Local Government Finance authorizes cities to implement such funds to recoup revenues lost when property-tax caps known as circuit breakers went into effect.
“All of the cities are doing it,” she said. “Tell City adopted theirs last week, I think.”
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