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Sampson County staff present budget projections showing large property valuation increase and a one-time fund balance use
Summary
County finance staff told commissioners at a Feb. 10 workshop that real-property valuation for the coming fiscal year is projected to rise by about $100 million, motor-vehicle valuations are expected to fall by about $6 million, and the county used an unusually large fund-balance appropriation to balance the current budget.
Sampson County finance staff presented preliminary revenue estimates on Feb. 10 that showed a roughly $100 million increase in real-property valuation for the coming fiscal year and continued uncertainty in other revenue categories.
At a county budget workshop facilitator Hudson said the numbers were provisional and would be adjusted as tax-office data comes in, and that staff would present an initial budget no later than June 1. Melissa, identified in the meeting as a member of county finance staff, told commissioners, “As you can see, there is a hundred million dollar estimated increase in real estate, real property values, and a $6,000,000 estimated decrease in motor vehicles.” She also summarized the county’s tax base and collection math: “This is a $7,190,000,000 tax valuation, and 1¢ at the county collection rate will generate…
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