Posted 3:13 pm Wednesday, August 01, 2012
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Smith County eyes property tax cut
BY ADAM RUSSELL
arussell@tylerpaper.com
Smith County Judge Joel Baker in a news release today said he has included a tax cut in the coming year's county budget.
Baker did not say how much the reduction would be per $100 valuation, but he did say the county could operate at its present capacity on $576,594 in additional tax revenues from new construction and 1 percent growth to tax rolls.
One cent typically means $1 million in tax revenues for the county, according to auditor Ann Wilson.
The county raised property taxes in 2010 to 31.38 cents per $100 valuation from 28.89 cents per $100.
There will be two public hearings on the proposed 2013 budget. One will be held on Aug. 21 at 5:30 p.m. in the commissioners courtroom in the Courthouse Annex, and another public hearing will be held on Aug. 28 at 9:30 a.m. Following the Aug. 28 public hearing, the court will vote on the FY 2013 budget. The adopted budget will go into effect Oct. 1.
arussell@tylerpaper.com
Smith County Judge Joel Baker in a news release today said he has included a tax cut in the coming year's county budget.
Baker did not say how much the reduction would be per $100 valuation, but he did say the county could operate at its present capacity on $576,594 in additional tax revenues from new construction and 1 percent growth to tax rolls.
One cent typically means $1 million in tax revenues for the county, according to auditor Ann Wilson.
The county raised property taxes in 2010 to 31.38 cents per $100 valuation from 28.89 cents per $100.
There will be two public hearings on the proposed 2013 budget. One will be held on Aug. 21 at 5:30 p.m. in the commissioners courtroom in the Courthouse Annex, and another public hearing will be held on Aug. 28 at 9:30 a.m. Following the Aug. 28 public hearing, the court will vote on the FY 2013 budget. The adopted budget will go into effect Oct. 1.
