Mentor Exempted Village holds tax budget hearing; CFO says county "piggyback" may reduce certified property tax
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Summary
The district's chief financial officer reviewed the purpose and schedule for the 2006 tax budget, said he excluded a county "piggyback" resolution from the district's calculation, and said the tax budget will be approved at the regular meeting on Jan. 13. No public comments were recorded.
Mentor Exempted Village held a brief tax budget hearing on Jan. 7, 2006, during which the district's chief financial officer, Mister Wade, outlined the purpose and timeline for the tax budget and said a separate county "piggyback" resolution was not included in the district's calculation.
"The tax budget is an annual regulatory requirement for us to identify and justify the need for previously authorized tax revenue," Mister Wade said, explaining that the hearing is a preliminary step that allows the district to collect voter-approved levies for the general and permanent improvement funds. Wade said the hearing was published in the Dec. 27 edition of the News Herald as required by law.
Wade said the tax budget does not represent the district's full analysis of expenditures, which will be developed later in the formal budgeting process in the spring when the district prepares an official certificate of estimated resources for the budget commission. "By no way does the budget demonstrate our complete analysis of our expenditures," he said.
Wade told the board he did not include a county "piggyback" resolution in the district's tax budget calculation. He said he believes the district's revenue projections should retain the full amount of voter-approved millage as reflected in the tax budget, but that he expects the county budget commission to apply a piggyback provision the county approved in October, which would reduce the district's certified property tax.
No vote was required at the hearing; Wade said the board will approve the tax budget at its regular meeting on Jan. 13. He also noted there would be a short pause before the upcoming organizational meeting and accepted no public comments during the hearing.
Votes at a glance A procedural motion to adjourn the tax budget hearing was moved and seconded (transcript does not identify who moved or seconded). Roll-call votes recorded: Miss Aapelo (Yes), Miss Marchaza (Yes), Miss Cook (Yes), Mister Hague (Yes), Mister Hardesty (Yes). The motion to adjourn was approved; the hearing was adjourned at 05:48 PM.
What happens next The board is scheduled to take formal action to approve the tax budget at its regular meeting on Jan. 13, 2006. Any adjustments that result from the county budget commission's application of the piggyback provision would affect the district's certified property tax after that commission's determination.