County Option Income Tax (COIT)

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Handout #5

BOONE COUNTY COIT DATA

(Since the County Option Income Tax was imposed effective July 1, 1986)

(compiled April 1, 2003)

1987

1988

1989

1990

1991

January 1 Cash Balance

0.00

Receipts

3,828,000.00

Disbursements

3,828,000.00

December 31 Cash Balance

0.00

Boone County Population

37,746 est.

37,932 est.

38,118 est.

38,304

38,851

COIT Receipts per Citizen *

98

1992

1993

1994

1995

1996

January 1 Cash Balance

0.00

0.00

0.00

0.00

0.00

Receipts

4,813,361.50

5,388,000.00

6,240,000.00

8,854,800.00

9,255,300.00

Disbursements

4,813,361.50

5,388,000.00

6,240,000.00

8,854,800.00

9,255,300.00

December 31 Cash Balance

0.00

0.00

0.00

0.00

0.00

Boone County Population

39,601

40,365

41,141

41,951

42,669

COIT Receipts per Citizen *

121

133

151

211

216

1997

1998

1999

2000

January 1 Cash Balance

0.00

0.00

0.00

0.00

Receipts

9,999,998.00

10,772,375.04

14,227,913.08

Disbursements

9,999,998.00

10,772,375.04

13,003,592.04

December 31 Cash Balance

0.00

0.00

0.00

1,224,321.04

Boone County Population

43,297

44,167

45,163

46,410

COIT Receipts per Citizen *

230

243

306

1997-2002

2003

2001

2002

Average **

Budget

January 1 Cash Balance

1,224,321.04

0.00

244,864.21

7,951,075.00

Receipts

13,467,531.92

30,970,992.00

15,887,762.01

13,710,222.00

Disbursements

14,691,852.96

23,019,917.00

14,297,547.01

13,710,222.00

December 31 Cash Balance

0.00

7,951,075.00

1,835,079.21

7,951,075.00

Boone County Population

47,408

48,427 est.

45,942

49,468 est.

COIT Receipts per Citizen *

284

639

345

277

* COIT Receipts per Citizen = (Receipts) / (Boone County Population)

** 1997-2002 Averages = (1997+1998+2000+2001+2002) Values / 5

Sources:

A. Boone Cty Annual Financial Reports published in Lebanon Reporter and Zionsville Times-Sentinel.

B. 2003 COIT Distribution from the Boone County Auditor on March 21, 2003.

C. STATS Indiana ( online at http://www.stats.indiana.edu/population/PopTotals/intercensal_90s.html )

Listed next is a historical summary of the County Option Income Tax (COIT) in Boone County. This information was obtained from a review of Boone County Council (BCC)  meeting minutes found in the Boone County Auditor's office.

To sum up (notwithstanding the mathematical errors in the BCC meeting minutes), the BCC established the COIT at 0.2% effective July 1, 1986, and county residents have been paying a full 1% of their taxable income in COIT taxes since July 1, 1994.

When the BCC first passed the COIT, the primary "selling point" was that this new tax would be used for road improvements. Lebanon's afternoon newspaper at the time, The Reporter, states in its May 22, 1986, edition that "Commissioner Sam Dodd backed up statements by Kuper and Gamble who said monies from the proposed tax is sorely needed for road repair." Guess how much COIT money is dedicated to county roads in the current 2003 budget ABSOLUTELY NONE.

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This page was last updated on 03/19/10 .