GATE CITY — The Scott County Board of Supervisors plans to keep tax rates the same as part of its budget for fiscal year 2020-21.
The board held a public hearing on its draft budget at its meeting on Wednesday. The BOS will vote to adopt its budget at another meeting later this month.
Just like last year, the tax rates for FY 2020-21 are proposed as follows:
• Personal property: $1.65/$100
• Real estate and manufactured homes: $.80/$100
• Public service corporation: $.80/$100
• Machinery and tools: $.90/$100
• Merchants capital: $.72/$100
Last year, supervisors planned to phase in a $1.40/$100 tax increase for machinery and tools by implementing a 25%, or 18-cent, increase each year for four years. However, due to the impact that COVID-19 has had on businesses, the board chose not to increase the rate this year.
“That would make the increase for fiscal year ’22 and fiscal year ’23 25 cents for each year to bring that up to the $1.40 that was our target last year,” said County Administrator Freda Starnes.
Other budget highlights
The county’s draft budget includes:
• An allocation of more than $6.6 million for public safety
• An allocation of nearly $2 million for public works
• An allocation of $648,250 for capital projects
• A transfer of more than $5.9 million to the school system operating fund
• A transfer of more than $4.4 million to public assistance (social services)
• Revenue of more than $9.5 million from real property taxes
• A general county fund balance of just over $26 million
The budget also includes the following for the school system fund:
• Total expenditures and revenue of more than $39.3 million. The largest sources of revenue are just over $1.9 million from the federal government, more than $30.6 million from the state and more than $5.9 million from the county.
• Total expenditures and revenue of more than $2.2 million for school food services. The largest revenue sources include $53,000 from the state, nearly $1.8 million from the federal government and $469,033 from food sales.
The board will vote on the budget at a meeting on June 22.