Even without a tax increase, Washington County could be in a position to make up a substantial portion of the county school system’s anticipated budget shortfall in fiscal year 2012/13, according to figures presented Tuesday.
County officials anticipate a revenue increase of $1.7 million this year, Mark Seamon, the county’s finance director, said during a meeting of the Board of Supervisors.
The biggest pieces of that are expected to come from rising sales tax revenue, property taxes from the assessment of a large natural gas storage facility in Saltville and delinquent tax collections.
In addition to that, the county anticipates another $1.3 million in back taxes for the facility – a one-time windfall after the facility's assessment was changed to reflect its true value.
That’s at least $3 million the county anticipates having for the upcoming budget year that it did not have in the current year, he said.
The upcoming real estate reassessment may also bring in some new revenue in 2013.
As the county begins its annual budget process, the biggest department in its budget – the school system – requested $6.6 million in new local funding to raise teacher salaries and make up for state funding cuts.
In terms of the county’s property tax, one penny per $100 of assessed value is anticipated to bring in about $380,000 in revenue.
“I don’t think we’re going to be able to give the schools 100 percent of what they requested,” said Board of Supervisors Chairman Joe Straten, “but I do think we’re going to be able to keep the tax rate lower than what the calculated figure would say it has to be.”
Seamon said the sales tax receipts hit bottom during the 2010 fiscal year and have since rebounded; the rise is projected to continue.
County Treasurer Fred Parker said the additional delinquent tax collection money will come from sales of property at public auction – typically cases in which taxes have gone unpaid because property was left in an estate with no clear title.
The county’s proposed budget is scheduled for presentation to the board at a 6:30 p.m. recessed meeting Tuesday, Feb. 21, along with budget presentations by county department heads and other agencies and organizations.
More detailed budget meetings are scheduled for March, with the county's tax rate for the 2012/13 fiscal year to be set in early April.
dmccown@bristolnews.com
(276) 791-0701
Email
Facebook
Google
Twitter
Favorites
More
Advertisement