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The budget will be financed by a 50 cent per $100 tax rate on real estate and a $2.90 per hundred rate on personal property. The 50 cent rate will bring in approximately the same amount of money under the new assessment that was raised this year with a 77 cent rate under the old assessment.
Since the new rate will raise about the same amount as the old, it is not considered a tax increase. However, taxpayers may find they are paying higher or lower taxes depending on their new assessments. In general those with property in land use will be paying lower taxes, while those who are not part of the land use program will be paying higher taxes.
This is because values for land in land use did not increase as much as assessments for houses or for land not in land use.
Chairman Hubert Gilkey suggested that
See BUDGET, Page A-3
93.0%