SEYMOUR, Ind. — Jackson County Council has approved a one-half of one percent local option income tax to help fund public safety and reduce property taxes. The tax will become effective January 1, 2017. Jackson County expects to raise revenue by $1.2 million, and Seymour could have an increase of revenue as much as $1.4 million.
The LOIT tax will cost five cents on every $100 earned. Or for a person who makes $50,000 per year, the tax would cost about $10 every two-week pay period. The deduction depends on how the W-4 form is completed.
The additional revenue will be used to put a new police officer on the street, enter into a contract with a building inspector, and hire two jail employees. There are currently 271 people in the Jackson County Jail, and the facility is designed for only 176 inmates.
The tax savings for property owners will depend on the township the property is located.