Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Baker Tilly presents preliminary 2027 revenue estimates to Boone County Council; state-certified levy growth rises to 6%
Summary
Consultant Baker Tilly presented preliminary 2027 revenue estimates, noting the state-certified maximum levy growth of 6%, an adjusted additional levy estimate near $775,000 due to local income tax allocation changes, and an increased circuit-breaker loss estimated around 5.9'6.2%. Staff advised documenting local choices about motor-vehicle excise/CVET revenue allocation.
Baker Tilly presented preliminary revenue and levy estimates for Boone County's 2027 budget during the July 14 council meeting, providing numbers county department heads can use as they prepare budget requests.
The consultant said the state certified a maximum levy growth rate of 6% for 2027, up from last year's 4%. However, Baker Tilly noted an adjustment that reduced the estimated additional levy from last year's roughly $1 million to about $775,000 for the coming year, a change tied to how local income tax (LIT) allocations interact with levy growth. The presentation also projected a circuit-breaker loss of about 5.9% for 2026 with a slight increase to an estimated 6.2% for 2027, affected by supplemental homestead-credit changes and other tax credit shifts.
The consultant recommended the county adopt a resolution documenting how it chooses to allocate supplemental motor-vehicle excise (CVET) and other similar revenues because recent legislative changes allow units discretion to move these receipts among funds; Baker Tilly said its baseline estimates assume those revenues follow the general fund unless the county decides otherwise.
Baker Tilly also provided a fund-by-fund revenue summary and noted some estimates depend on state-reported certified shares (expected around August 15). The presentation emphasized assumptions and the need to re-run estimates if major changes to assessed value or new legislation occur.
Council members asked clarifying questions about miscellaneous revenues, investment earnings assumptions and how recent legislative changes affect long-term levy calculations; the consultant said the estimates are conservative models based on known variables.
