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Scoggin pointed out that the equalization board must finalize assessment values by June so the supervisors can complete budget work.
“Is there any reason for delaying the switch to 100 per cent assessment?” asked Gilkey.
“None at all,” the commissioner of revenue replied.
The supervisors cannot enact land use for 1981. To do so, Luke pointed out, the ordinance had to be adopted by June, 1980. So if the new assessment figures are implemented this year, then the supervisors will be faced with setting a low tax rate so as not to unduly burden large landowners, according to the supervisor chairman. Delaying implementation of fair market value assessment will give the county the time to adopt the use value taxation ordinance which will reduce the tax burden on large land holdings, he said. “That may be worth paying $3,400,” Luke added.
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If old assessments are retained in 1981, said Scoggin, then the tax rate will have to go up. With no budget increases, next year’s rate under the old assessment will have to be $5.16 just to recover revenue lost by discontinuing taxes on personal property, livestock and farm machinery, according to the commissioner of revenue.
“There’s also been some talk of reducing merchants capital tax,” Luke noted. “That’s a great big hunk of money.”
According to the minutes read by clerk Bruce, the supervisors resolved that issue with an earlier vote to set the assessment at zero if merchants capital tax couldn’t be eliminated entirely. To reverse that decision would require another public hearing and a vote to rescind the first action.
Luke pointed out that the board's decisions to eliminate taxes on personal property, livestock, farm machinery and merchants capital left taxes on land and buildings as the only remaining revenue source. "There never will be talk again of reducing
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