Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Public Finance topic
No spam. Unsubscribe anytime.
Officials say revised bond cuts county tax impact to just under 5¢ per $100 valuation
Summary
Commissioners presented preliminary tax estimates tied to the revised plan, saying the original proposal would have raised county taxes by about 10¢ per $100 valuation but the updated phased plan is expected to increase the county portion by just under 5¢; final numbers will be delivered by bond counsel on Monday.
County officials told attendees that preliminary revisions to the justice center and jail plan reduced the estimated tax impact from roughly 10¢ to just under 5¢ per $100 of assessed value. A commissioner summarized the change, saying the preliminary numbers “cut about the tax burden we think today” and that exact figures will be provided by bond counsel at a Monday 10:00 a.m. briefing.
Speakers illustrated the household effect: at the forum officials said a 5¢ increase on a $100,000 home equates to about $50 per year. Officials cautioned those figures are preliminary and will be finalized after bond counsel completes modeling that accounts for frozen taxes for seniors and phased bond issuance over multiple years. The court asked bond counsel to return with detailed scenarios before any decision to place measures on a ballot.
