March 25, 2018
By: Dwayne Page
The county budget committee will soon begin work preparing a spending plan for the 2018-19 fiscal year.
During an all-committees workshop of the county commission Thursday night, County Mayor Tim Stribling said budget forms will be sent out to all department administrators Monday for them to return with any requests they may have for the new budget year.
Stribling shared with the Commissioners information on how much money the county is expected to receive from the current tax rate in the new fiscal year.
The overall tax rate is $1.8335 cents per $100 of assessed valuation.
The rate is distributed as follows:
County General: 0.9635 cents
General Purpose Schools: 0.6100 cents
Debt Service: 0.1200 cents
Highways/Public Works: 0.0300 cents
General Capital Projects: 0.1100 cents
Revenue from the current property tax assessments for the 2018-19 fiscal year based upon estimated assessed valuations of $497 million dollars is $49,700 per one cent of the property tax rate. However the county is actually expected to receive $46,658 per cent of the tax rate based on a 94% collection rate or a 6% delinquency.
The estimated net collection from the overall property tax rate is $8,565,745 in local revenue to help fund the county general department, general purpose schools, debt service, highways/public works, and general capital projects.
The net estimated local property tax collection for each department is as follows:
County General: $4,501,279
General Purpose Schools: $2,849,798
Debt Service: $560,616
Highways/Public Works: $140,154
General Capital Projects: $513,898