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County advisor details modeling: $286.36M package would add ~4.99¢ in taxes under current assumptions
Summary
Hilltop Securities presented modeling showing a combined $286,360,000 package (jail $104,755,000; Justice Center $181,605,000) with a projected tax impact of about 4.99¢ per $100 of taxable value; the firm cited growth assumptions and protections for taxpayers 65+.
County financial adviser George Williford told the court Aug. 18 that revised project estimates produced a combined total of $286,360,000 for the jail and Justice Center and that, under the firm’s assumptions, the modeled tax-rate increase would be about 4.99¢ per $100 of taxable value.
Williford described the two project amounts—$104,755,000 for the jail and $181,605,000 for the Justice Center—and presented a proration that would allocate roughly 1.81¢ to the jail and 3.18¢ to the Justice Center. "For taxpayers on a property that had a taxable value of $100,000, the annual impact would be $49.90," he said, adding that this equals about $4.16 per month. Williford said his model projects taxable-value growth of about 5% annually for three years, then 4% in later years, and cited an average historical growth of roughly 11.6% over five years.
He also noted that the county’s existing protections for homeowners 65 and older with a homestead freeze mean those homeowners would not see their taxes rise because of the bond issue. Williford and bond counsel provided written packets with the detailed assumptions and said staff could provide the packets to commissioners and residents for review.
