If appraisals remained the same, a homeowner with a $100,000 property would save $1.60 on his tax bill. A person with a $1 million property would save $16.
If the 40.74 cent tax rate per $100 valuation is approved it would be a decrease of 16 hundredths of a cent over last year. The 2008 rate of 40.9 cents was a decrease of two-tenths of a cent over the 2007 rate.
Last year, the average taxable value of a home in the county was $111,166, which brought in $455 in tax revenues to the county per average home.
In 2009, the average taxable home value has increased by more than $7,000 to $118,350, which at the new proposed rate would cost the taxpayer $482.
Even though the rate is expected to decrease, it is still projected to bring in more tax revenue because of increased tax appraisal assessments and the county’s tax base continues to grow.
In fiscal 2009, the effective tax rate of 39.2 cents is projected to bring in the same amount of revenue as this year when the county collected about $44.4 million in tax revenue.
Next year, the county anticipates collecting $48.5 million in property tax revenues, according to Donna Eakin, county auditor.
Judge Jon Burrows said he didn’t foresee any problem paying for increased fuel, energy and material costs. He said the county is in “strong financial condition to deal with what are hopefully short term increases.”
The county could use some of its fund balance if necessary, Burrows said.
“We’ve proposed doing that in the past and haven’t had to do it,” he said.
