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Union County staff outline FY26 budget outlook, CIP priorities and bond tax impacts after revaluation
Summary
County staff presented fiscal projections, a six-year capital improvement program and models for upcoming voter-approved bonds; revaluation increased the penny value and narrowed the revenue-neutral rate, but staff warned voter-approved school and college bonds will require added debt service above revenue-neutral rates.
Union County officials on April 14 outlined revenue projections, a proposed six-year capital improvement plan (CIP) and the tax-rate impact of upcoming general obligation bond issuances the county plans to sell in July.
Finance Director Beverly Lyles, Budget Director Jason May and Facilities Director Chris Boyd presented the county's capital requests and debt models and answered commissioners' questions about timing, priorities and tax impacts.
What staff told the board
- Revaluation and penny value: Jason May said the county is using a new penny value of $6,081,022 for modeling after the revaluation. The county's revenue-neutral tax rate calculation shown to the board was 41.59'cents per $100 of assessed value; the county's current tax rate is 58.85'cents.
- Revenue and timing: May said staff was finalizing third-quarter revenue and expense projections and planned to deliver a complete third-quarter report by May 1. He described ad valorem growth modeling based on four years of historical growth (about 4.119%…
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