A new budget proposed for Dare County leaves the property tax rate unchanged as the county brings in more income from an increase in overall property values.
Property owners in a new public service district in Buxton, however, would pay an additional 25 cents per $100 of value to help pay for a 2.5 mile-beach nourishment project.
The base tax rate in Dare County is 43 cents, or $1,290 a year for a house assessed at $300,000. Town property owners pay an additional local tax, and county owners pay additional fire service district taxes.
County Manager Bobby Outten presented his $104 million budget proposal to the Board of Commissioners Monday. The new budget year starts July 1, and a public hearing was set for June 6.
Outten told the commissioners that the tax base is estimated to be a little over $13 billion, an increase of 1.24 percent that equates to an additional $752,851 in property tax revenue for the 2016-2017 spending package.
Monday’s presentation represented figures for the second year of a two-year budget period.
Few changes in services are included, although the county will no longer collect trash for Southern Shores, which has decided to switch to Bay Disposal and Recycling. The change means a loss of $225,000 in revenue, but Outten’s budget eliminates two vacant positions and reduces capital spending from two trucks to one to cover the difference.
Sales and occupancy tax revenues are expected to increase, Outten said. The occupancy tax is budgeted at an additional $261,495, an increase of 2.75 that reflects an improved local economy.
The county’s fund balance, or savings account, is projected to be 17.38 percent, which is about $1 million below the county’s target of 19 percent. The fund balance is important in the event of a major disaster and to maintain a solid credit rating for lower interest on bond issues.
School funding was set at $22.7 million. That includes $500,000 in the second of five years for deferred maintenance projects. The agreement on maintenance was reached after a dispute over the school system’s practice of including some maintenance projects in its operating budget.
Also in the proposal is a 2 percent increase in water rates.
Resource: http://outerbanksvoice.com
Property owners in a new public service district in Buxton, however, would pay an additional 25 cents per $100 of value to help pay for a 2.5 mile-beach nourishment project.
The base tax rate in Dare County is 43 cents, or $1,290 a year for a house assessed at $300,000. Town property owners pay an additional local tax, and county owners pay additional fire service district taxes.
County Manager Bobby Outten presented his $104 million budget proposal to the Board of Commissioners Monday. The new budget year starts July 1, and a public hearing was set for June 6.
Outten told the commissioners that the tax base is estimated to be a little over $13 billion, an increase of 1.24 percent that equates to an additional $752,851 in property tax revenue for the 2016-2017 spending package.
Monday’s presentation represented figures for the second year of a two-year budget period.
Few changes in services are included, although the county will no longer collect trash for Southern Shores, which has decided to switch to Bay Disposal and Recycling. The change means a loss of $225,000 in revenue, but Outten’s budget eliminates two vacant positions and reduces capital spending from two trucks to one to cover the difference.
Sales and occupancy tax revenues are expected to increase, Outten said. The occupancy tax is budgeted at an additional $261,495, an increase of 2.75 that reflects an improved local economy.
The county’s fund balance, or savings account, is projected to be 17.38 percent, which is about $1 million below the county’s target of 19 percent. The fund balance is important in the event of a major disaster and to maintain a solid credit rating for lower interest on bond issues.
School funding was set at $22.7 million. That includes $500,000 in the second of five years for deferred maintenance projects. The agreement on maintenance was reached after a dispute over the school system’s practice of including some maintenance projects in its operating budget.
Also in the proposal is a 2 percent increase in water rates.
Resource: http://outerbanksvoice.com
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