The deregulation of the electric industry has decreased annual revenue received from the Beckjord Power Plant for the Village of New Richmond. This decrease, coupled with the current recession, has resulted in the need for the village to implement a 1 percent income tax to generate needed revenue.
“We have been working for some time on the development of the income tax,” said Mayor Ramona Carr. “We met on Nov. 18 to discuss the different options in terms of the percentage of the tax and whether or not to give credits. Tonight we are asking council to approve a 1 percent income tax. This tax would be effective beginning Jan. 1, 2010.”
New Richmond council members approved suspending the three reading rule and voted to approve an ordinance enacting the 1 percent tax at the regular council meeting on Tuesday, Nov. 24.