Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Property Tax Revenue topic
No spam. Unsubscribe anytime.
Finance director: real-property revenue up $640,000; personal-property revenue projected down $550,000
Summary
Director of Finance Amy Dill told the Board that using the equalized rate yields an anticipated $640,000 increase in real-property tax revenue while personal-property tax revenue is forecast to fall by $550,000, driven largely by lower vehicle appraisals (about 4% average decline).
Director of Finance Amy Dill presented the Board with revenue projections and tax-rate scenarios, saying the county can expect about a $640,000 increase in real-property tax revenue under the equalized rate and that personal-property tax revenue is projected to decrease by roughly $550,000.
"With real property tax revenue there is an anticipated increase of $640,000," Dill said as she walked the Board through charts that also compared the previous tax rate and the equalized rate. She told the Board that personal-property revenue declines reflected an average 4% decrease in vehicle appraisals and that the County appears to have more personal property on the rolls, possibly linked to short-term rental ownership.
Dill used examples showing how changes measured in pennies on the tax rate would affect average homeowner bills and total revenue. She provided the Board with a chart of average home values and calculated impacts using the previous rate (presented in the minutes as $0.64) and an equalized rate listed as $0.464.
