Walker co-authors spending limits bill

(STATEHOUSE) –Legislation to control and manage local debt was approved today by the Senate State Tax and Fiscal Policy Committee. Senate Bill 18 is co-authored by Sen. Greg Walker (R-Columbus).

“Approximately 24 percent of the net property tax levee is used for debt service, and the average annual increase of school and local debt was about 9.5 percent per year from 2000 to 2006,” Walker said. “If we want to control property taxes, we must control government spending. This bill encourages local government to pay off debt rather than extend it.”

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