County Administrator Explains Debt Capacity Increase: $11–$13M Per Penny on Tax Rate
Summary
County Administrator Evan Vass said the assessed-value measure for a 'penny' rose from $600,000 to $840,000 and that each $0.01 increase in the real-estate tax rate would generate roughly $11–$13 million in debt capacity; supervisors asked how that interacts with retiring and new debt in FY27.
Evan Vass explained that the change in the assessed-value basis increased the value of a single 'penny' on the real-estate tax roll from about $600,000 to about $840,000. He said, at the new value, the county would gain roughly $11–$13 million of additional debt capacity for each $0.01 added to the tax rate, and he outlined how maturing debt and new borrowing would affect available capacity in FY27.
Supervisor David Ferguson asked for a current debt-capacity figure and for modeling of how the schools’ proposed timelines and bond schedules would translate into annual debt service and potential tax-rate impacts. The board asked staff to provide a debt-service schedule to equate project timelines to likely tax implications before making commitments to the capital program.
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