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Fiscal court sets county compensating tax rate after PVA worksheet review
Summary
The fiscal court reviewed tax-rate scenarios from the PBA office and approved using the compensating-rate worksheet outcome (compensating real estate 0.386; tangibles kept at same uniform compensating rate) to preserve parity across classes while limiting the burden on local businesses.
Tracy from the PBA office presented the county''s tax-rate worksheet and outlined options to keep last year's uniform rate or adopt compensating rates that reflect changes in assessed values. The compensating scenarios were intended to generate either a modest $7,800 increase or a larger $64,000 increase depending on which compensating tangent was chosen.
On the reduction in reported tangible assessments, Tracy said the change was driven primarily by public-service companies appealing their assessments, which temporarily lowered the reported tangibles value. She explained the worksheet approach: "If you elect to take the compensating rate per that worksheet ... that would increase our funds projected funds by 64,000." Commissioners discussed the trade-off between revenue and cost to local businesses.
Magistrate David Kelch moved and Craig Miller seconded to adopt the compensating-rate approach that kept a uniform compensating rate across classes (real estate 0.386; tangibles treated uniformly to avoid raising business inventory taxes sharply). The court approved the motion on roll-call vote. Commissioners asked staff to bring the final spreadsheet and billing configuration to the next meeting for formal billing implementation.
