The DeKalb County Commission is expected to adopt the budget for the 2008-09 fiscal year this month.
Total expenditures in the proposed budget come to $33-million 452-thousand 127.
The current property tax rate is $1.70 per $100 of assessed value but the new certified property tax rate, following reappraisal or Current Value Update, is $1.4599, which is expected to generate about the same amount of local tax revenue as the $1.70 rate
County Mayor Mike Foster says the county commission may vote to round off the new tax rate to $1.46. "The assessed value of property, as a result of the CVU, went to $445-million 187-thousand 839. One cent of the property tax rate at $1.46 generates $44,518 or $42,181 after the county figures in a tax delinquency rate of 5.25%."
The new proposed property tax rate would break down as follows:
County General- 55 cents
General Purpose Schools- 49 cents
Debt Service 20 cents
Highway Department- 3 cents
Solid Waste- 19 cents
Foster says no property tax increase is needed this year because of revenues generated by the local option sales tax increase, which was approved by the voters last year. Plus, he says all county departments concluded the 2007-08 fiscal year under budget by from 10 to 20%, which has saved the county some money.
The proposed county general budget includes funds for an employee pay raise of about $600 for the year. Foster says this would help offset a 17% increase in their insurance premiums.
He says more money is also included in the budget for gasoline and diesel fuel.
The county budget committee will meet again on August 11th to make some final revisions before making a formal recommendation for passage of the budget to the county commission.