A working mans simple math applied
Published 7:52 pm Monday, April 19, 2010
To the Editor:
I became suspicious when I read Renee McDermotts letter to the editor in which she stated According to the North Carolina School of Governments formula, we cut the tax rate to below revenue neutral.. so I did some simple math based on the facts.&bsp; These facts are easily obtained from our Polk County Finance Office. &bsp;
Before the last revaluation of property in Polk County the value of all property in Polk County was $1,834,184,856.00 and the tax rate was $0.68 per 100 of valuation. With simple math applied this comes to $12,472,457.02 in tax revenue paid to the county by these property owners.
After the last revaluation of property in Polk County the value of all property in Polk County is $2,454,419,919.00 and the tax rate is $0.52 per 100 of valuation. Again with simple math applied this comes to $12,762,983.58 in tax revenue paid to the county by these property owners.
I see this as a $290,526.56 tax increase, not below revenue neutral as Renee implied or a tax cut that has been touted by Ray Gasperson. But then again I am only using simple math, not the high powered math used by these two local politicians that currently spend the taxes that you pay to Polk County from your hard earned money.
Tom Pack