Budget Talk Continues Today

By David Howell

Editor

WATER VALLEY – Supervisors will continue budget talk Wednesday morning as they work through the annual budget process to set the millage rate for the 2017-18 fiscal year that starts in October. The biggest consideration is the increase in the county’s assessed value, which grew this year by a value of 5,395,496 for the land and personal rolls.

Speaking at last Friday’s supervisor meeting, Chancery Clerk Amy McMinn provided a comparison for the current fiscal year and coming fiscal year with the increased assessed value. She explained the current tax rate for the county’s general fund is 58.2 mills, which will bring in $3,343,437 during the current fiscal year which ends in September.  With the increase in assessed value, McMinn added that the millage rate could be lowered 3.7 mills to bring in the same amount of money. 

Each year supervisors also field requests from department heads for budget increases and this year the requests totaled $46,181 (see related story, Page 1). 

The requested increases will also be part of Wednesday’s discussion.

In addition to the general fund levy, Amy McMinn also provided a comparison for other tax levies as part of the dialogue.

Starting with the road levy, she said the current millage rate is 4.65 mills, which will generate $184,278 during the 2016-17 fiscal year. With the increase in the assessed value, the same tax levy would generate $200,070. The money is split evenly between the five beats. 

In the bridge fund, if the current tax levy of 9.2 mills stays the same in the coming year, it will bring in $561,000. That money is also divvied up between the five beats, but it is based on the number of bridges in each beat. With the increase in the assessed value if the millage rate remains the same District 1 will receive $145,000, District 2 will receive $72,000, District 3 will receive $112,000, District 4 will receive $72,000 and District 5 will receive $157,000.

In the rural fire fund, the current levy is 3.07 mills. If the millage rate is not reduced, the increased tax assessment will generate $142,000, or an increase of  $12,000 in the coming year.

Budget Discussion

“We did a complete overhaul of the square foot cost and all that, and the four year update that the state requires,” Tax Assessor/Collector Linda Shuffield explained about the increase in assessed value. 

“I have several folks who have heard the assessments are up and their taxes went up a little bit,” District 3 Supervisor Lee McMinn said. “They are questioning that values have gone up and I can tell you that property is selling for a fair amount higher now than it was in the last couple of years.”

McMinn, who is also a local realtor added that record prices are being paid for homes, land and commercial properties in the county.

“I would like to see if cut some of the numbers back, if we can,” Board President Cayce Washington said during the discussion, referring to reducing the millage rate to offset the increased value of property in the county to keep taxes from increasing.

“If we don’t lower the millage rate, our taxes are going to go up,” District 5 Supervisor Gaylon Gray added. 

“Just remember, now, if we are fortunate to maintain a little bit of growth, it is going to cost more. Everything is going to cost more. Lee McMinn noted.