On Monday county treasurer Denae Jueneman told the Board of County Commissioners that she has had several more complaints about the intangibles tax, and because this is an election year, she wondered if the commissioners had thoughts about allowing voters to decide whether or not to get rid of the tax at the county level. The intangibles tax is a local tax levied on gross earnings received from intangible property including savings accounts, stocks and bonds, among other things. Payment of the tax is on the honor system.
“You get penalized for honesty,” commissioner Raleigh Ordoyne said.
Jueneman said the intangibles tax brought in about $47,000 last year.
If the question were to be put in front of voters later this year, it would impact only the county’s portion of the tax; some townships and cities collect the tax too, and a county-wide vote wouldn’t impact those collections.
Read more: Washington County News.
