Polk settles on ¼ cent tax decreasePublished 10:45pm Tuesday, May 21, 2013
Once commissioners reviewed the estimated loss in revenues from the appeals, commissioner chair Michael Gage asked if there was anywhere else the board could squeeze the budget to come up with a tax decrease.
Commissioner Keith Holbert said the county could take the tax decrease out of fund balance, but commissioner Tom Pack disagreed.
Pack said he doesn’t mind pulling capital expenses out of fund balance because those are one-time expenditures. For the tax decrease, Pack said, the county would have to see where it is going to cut another $100,000 in order to do a ½ cent decrease.
“I’m not saying it’s impossible, but it would take going through the budget again and seeing what we can find,” said Pack.
The farmland preservation that was cut from the budget was money set aside to purchase development rights to preserve farmland. Commissioners agreed that if the opportunity arises next year to fund farmland preservation, the county could take it case by case and fund those through its fund balance.
If given final approval next month, the county’s tax rate will be reduced from 52 cents per $100 of valuation to 51.75 cents.
The tax cut will mean an approximate $2.50 savings per year on properties worth $100,000, an approximate $5 savings on properties worth $200,000 and an approximate $7.50 on properties worth $300,000.
During the commissioners meeting following Monday’s workshop, commissioners decided to change the date when interim county manager Marche Pittman presents a balanced budget and message to the board. The meeting will now be held on Friday, May 31 at 9 a.m.
Following the May 31 meeting the county hold a flag dedication at the department of social services building in Mill Spring scheduled for 10 a.m.
A budget public hearing is scheduled for June 10 at 7 p.m.