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penny lower than the 33 cent rate advertised last month with the county's proposed $3.6 million budget.
At Monday’s special meeting for budget adoption, the supervisors set the 32 cent rate by majority vote on a motion from H. B. Wood. There was no discussion although last week Wood indicated he would seek the one cent cut in the advertised levy on the basis of a $200,000 surplus projected for the end of the coming fiscal year with the 33 cent rate.
(According to accountant Wally Cox, with new 100 percent fair market assessments pushing county property values up to a total of $200,000,000, one cent on the rate generates approximately $21,000 in revenue.)
Wood’s motion passed 3-2, supervisors Hubert Gilkey and Charles Estes opposed.
"This decrease will draw on the surplus,” chairman Dick Latham said to Estes.
“I understand—perfectly,” the Piedmont supervisor replied. At last week’s meeting, Estes had questioned the advisibility of drawing on surplus to reduce a tax rate he described as
84.5%