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Wednesday, June 22, 2011

Sussex County Council Approves One-Time Tax Credit

GEORGETOWN, Del. (AP) -- The Sussex County Council has voted to spend any remaining surplus on a one-time tax credit.

The size of the surplus or tax break isn't known, but preliminary estimates say it could be as much as $1.3 million. By law, 10 percent of any surplus must be devoted to land preservation, while $136,000 will also be paid out in grants to nonprofits and towns. Tuesday's vote was 3-2.

Some council members argued that the county shouldn't keep the money, while others were hesitant to vote in favor of a tax credit when it wasn't clear how big the surplus was going to be.

Last year, the county voted to set aside nearly $92,000 of its surplus to restore cuts made to local fire company grants.

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