FREDERICKTOWN — The Fredericktown Board of Education on Tuesday voted 4-0 to place an earned income tax levy on the November ballot. The one-half percent tax will be in effect for five years, beginning Jan. 1, 2012, and will provide for the district’s current operating expenses. It will generate $500,000, the same amount of funds as a 3.6-mill property tax levy.
The earned income tax applies to earned wages, salaries and self-employed income only. It does not apply to income such as pensions, interest dividends, disability payments, Social Security or capital gains.
Board President Charles Streby voted against the measure, citing the current economic situation. He said he will support the board’s decision and will be “behind them 100 percent.”
