BOC PASSED BUDGET & MILLAGE RATE–HOW MUCH IS YOUR TAX INCREASE?

May 24, 2016

Taxes upLast night the BOC passed the FY17 budget and agreed (3-2 with Luke and Henry voting against) to a 16.446 mil rate, with the bottom line figure of the budget unknown.  There was so much talk and double talk, no one could tell what the budget bottom line was and how much Fund Balance will be used to balance the budget.

The BOC allowed NO PUBLIC INPUT during the entire budget process and work sessions.  

This is the 3rd year in a row this BOC has used Fund Balance instead of cutting the budget to balance revenues with expenditures.  

It will take us a few days to get the actual totals from the county manager and to get the videos uploaded.  However, with a mil rate of 16.446, expect to pay higher property taxes if your values went up.

EXAMPLE

Year                                   Last year.                            This year

FMV.                                $100,000.                            $112,000.  (12% increase)

40% assessed value.     $40,000.                              $44,800

Mil rate.                               17.446.                                 16.446

County Tax.                         $698.                                      $737

Mil rate including County, School, & Hospital

Total                                    37.436.                                    35.936

Tax.                                       $1497.                                     $1610

The School Board cut their millage from 18.99 to 18.49 (1/2 mil); the hospital still gets 1 mil of tax.  If you live in the City, this does not include the City millage rate.   Our taxes will be higher because our elected officials can not find anywhere to cut the budget, or so they say.

TWG

http://www.taxdogs.wordpress.com

http://www.facebook.com/taxdogs

 

 

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