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Town Council lowers tax limit

Pulaski residents will pay at least two cents less per $100 of value on their town real estate taxes in the upcoming fiscal year.
Pulaski Town Council voted 4-2 Tuesday to advertise a 30-cent rate for the 2009-10 fiscal year. Since council cannot adopt a rate higher than the rate advertised, the maximum increase town residents could expect to pay under the new reassessment values is 11.2 percent.
Only Councilmen Larry Clevinger II and Morgan Welker cast dissenting votes.
Town Manager John Hawley pointed out that council still will be taking a shot in the dark in choosing a figure to advertise because the final figures on the county-wide reassessment will not be available until the Board of Equalization has completed all appeals. Nonetheless, a rate must be advertised shortly in order to meet required deadlines.
Hawley said he doesn’t anticipate much change in assessment figures within the town. However, he recommended advertising a rate equal to the present rate of 32 cents in order to ensure adequate leeway in meeting revenue requirements for the upcoming budget.
He pointed out that council could later reduce the finalized rate as they see fit.
Hawley estimated the equalized rate to be about 27 cents. The equalized rate is the rate that would bring in the same amount of revenue under the new assessed values as was collected under the old assessments.
Councilman Robert Bopp expressed concern about advertising a 32-cent rate, saying he fears council will be more likely to go with the maximum rate advertised.
Mayor Jeff Worrell assured Bopp the rate will not be set any higher than absolutely necessary.
As a compromise, Bopp made the motion to advertise a 30-cent rate.
Public comments on the tax rate will be taken during a May 5 public hearing.
According to figures presented to council Tuesday, a 30-cent rate would increase revenue by almost $143,000. He said each penny change in the rate is equal to about $47,000.

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Town Council lowers tax limit

Pulaski residents will pay at least two cents less per $100 of value on their town real estate taxes in the upcoming fiscal year.
Pulaski Town Council voted 4-2 Tuesday to advertise a 30-cent rate for the 2009-10 fiscal year. Since council cannot adopt a rate higher than the rate advertised, the maximum increase town residents could expect to pay under the new reassessment values is 11.2 percent.
Only Councilmen Larry Clevinger II and Morgan Welker cast dissenting votes.
Town Manager John Hawley pointed out that council still will be taking a shot in the dark in choosing a figure to advertise because the final figures on the county-wide reassessment will not be available until the Board of Equalization has completed all appeals. Nonetheless, a rate must be advertised shortly in order to meet required deadlines.
Hawley said he doesn’t anticipate much change in assessment figures within the town. However, he recommended advertising a rate equal to the present rate of 32 cents in order to ensure adequate leeway in meeting revenue requirements for the upcoming budget.
He pointed out that council could later reduce the finalized rate as they see fit.
Hawley estimated the equalized rate to be about 27 cents. The equalized rate is the rate that would bring in the same amount of revenue under the new assessed values as was collected under the old assessments.
Councilman Robert Bopp expressed concern about advertising a 32-cent rate, saying he fears council will be more likely to go with the maximum rate advertised.
Mayor Jeff Worrell assured Bopp the rate will not be set any higher than absolutely necessary.
As a compromise, Bopp made the motion to advertise a 30-cent rate.
Public comments on the tax rate will be taken during a May 5 public hearing.
According to figures presented to council Tuesday, a 30-cent rate would increase revenue by almost $143,000. He said each penny change in the rate is equal to about $47,000.

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