TERRE HAUTE, Ind. (WTWO/WAVW) – The Vigo County Council approved a plan that is expected to pay off the new county jail’s debt ten years early on Tuesday.

The local income special purpose tax that is used to fund the new Vigo County Jail is bringing in more revenue than expected. These funds would be put into a special reserve that could pay off the jail debt early.

Roughly $33 million of jail debt would be paid by that July 2029 target date.

Vigo County Councilman Aaron Loudermilk said that this could save taxpayers $62 million by ending the special purpose tax early.

“To have the opportunity to set forth a plan to be able to pay it off ten years early and eliminate a tax is a big step by this council,” Loudermilk explained. “It’s very rare in government that you hear government actually reducing tax rates.”

The busy night continued for the Vigo County Council as it voted to approve the budget for 2023. The actual budget is set at $74.5 million, and they can spend no more than than the advertised number at $85 million.

It was a long budgeting process that started when inflation was at record highs and gas prices were well above the $5 mark. Vigo County Councilman David Thompson said that cuts had to be made, but assures county departments will still be able to do their jobs effectively.

“We had to make a lot of uncomfortable cuts to departments,” Thompson said. “Those cuts were nothing that was going to effect the way they do their job.”

However, the budget committee was able to give county employees a 2.5% raise during the budgeting process.

The next Vigo County Council meeting is scheduled for October 11th.