Mason County adopts 2024 tax rates using compensating rate, citing stable revenue

Mason County Fiscal Court voted on Aug. 23 to adopt Resolution 24-12, setting the county's 2024 ad valorem tax rates and applying the compensating rate to offset rising property assessments. The court accepted a projected county revenue figure of $3,799,715.65 tied to the recommended rate.

Treasurer Kim Muse read the resolution and the rate schedule to the court, saying, "A resolution relating to the levy and adoption of tax rates for Mason County, and the acceptance and or acknowledgment of tax rates for special districts and other taxing districts." The county's general real-estate rate is listed at 22.2 cents per $100 of assessed value; tangible personal property is 25 cents; motor vehicles and watercraft 16 cents; and tobacco and storage $1.50 per $100. School and other special-district rates were listed separately in the resolution.

Court members discussed how the compensating rate is intended to neutralize revenue changes caused by higher assessments and reviewed specific district changes. The court noted that some districts, including the extension and library, used the compensating rate while the school district's rate remained unchanged and the health department reduced its rate by 0.25 percentage points. One member observed that, for a $100,000 home, the annual difference under the proposed approach would be about $92 compared with certain alternatives.

After discussion, a motion to adopt the compensating rates was moved, seconded and approved by roll call vote, and Resolution 24-12 was adopted.

The court clerk recorded affirmative votes from present commissioners. The resolution as read includes the full per-$100 rate schedule for county and special districts; the court's action finalizes those rates for the 2024 tax year.