How does Wells County compare?

Wells County Commissioners approved Monday allocating $200,000 of the county's annual CEDIT (County Econonic Development Income Tax) revenue to a project fund for economic development.

The decision comes after multiple conversations about the best way to spend the money.

During the conversations, proponents and opponents of the plan cited other counties CEDIT distributions. Of those counties — Blackford, Jay, Noble, Whitley and Huntington — only one county has a different rate: Whitley at 1 percent.

The rates, though, vary much more across the state. The state's Department of Local Government Finance keeps track of each county's CEDIT rate and how much money it gets.

To see how much other counties tax — and how much they receive — click here to go to the DLGF's web page for county-specific information.

After clicking on the link, you'll see near the top of the page a list of counties. Once you choose one of the counties, you'll go to that county's page. Scroll down until you see the "Reports" section (see the image below) and click on the "2012 CEDIT" link.

Note that the differing rates don't necessarily reflect the overall local income tax rate, as CEDIT rates are partially determined by the amount of other income taxes the county levies.

To learn more about the local discussion, see the Tuesday, April 3, News-Banner.

Finally, the law allows county officials to spend CEDIT money for specific reasons:

(A) promote significant opportunities for the gainful employment of its citizens;
(B) attract a major new business enterprise to the unit; or
(C) retain or expand a significant business enterprise within the unit; and
(2) involves an expenditure for:
(A) the acquisition of land;
(B) interests in land;
(C) site improvements;
(D) infrastructure improvements;
(E) buildings;
(F) structures;
(G) rehabilitation, renovation, and enlargement of buildings and structures;
(H) machinery;
(I) equipment;
(J) furnishings;
(K) facilities;
(L) administrative expenses associated with such a project, including contract payments authorized under subsection (b)(2)(D);
(M) operating expenses authorized under subsection (b)(2)(E); or
(N) to the extent not otherwise allowed under this chapter, substance removal or remedial action in a designated unit;
or any combination of these.