Tuesday, August 10, 2010

“Property tax hike in sight, after November bond election” plus 3 more

“Property tax hike in sight, after November bond election” plus 3 more

Property tax hike in sight, after November bond election

Posted: 09 Aug 2010 05:13 PM PDT

By James Clark | email

LUBBOCK, TX (KCBD) - Lubbock property taxes are scheduled to increase for the coming year.  On Thursday the City Council has a proposal to raise taxes by more than three cents per hundred dollars of taxable value. 

In addition home values are up roughly two percent.  Bottom line, the average Lubbock home owner might expect a tax increase of $49, or more, on the city portion of his or her property taxes.

Officials say the property tax increase is exactly matched by what voters approved in the November 2009 bond election.  Lubbockites approved $43 million for street improvements and $7.5 million for new fire stations.  Water recreation and soccer fields did not pass. 

The public hearings on the tax rate are scheduled for Thursday August 26 and Thursday September 2nd; both at 7:30 AM and both in the City Council Chambers.

Copyright 2010 KCBD.  All rights reserved.

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Property tax hike possible in Gibson Co. budget

Posted: 10 Aug 2010 03:52 AM PDT

TRENTON — The Gibson County Commission may vote as early as Aug. 30 on a new budget that could include a 32-cent property tax increase after a wheel tax referendum failed to gain public approval last week.

Commissioners recessed until the end of this month after meeting Monday for more than two hours to discuss a new budget that many said should have enough funding to restore a dwindling reserve fund. The proposed 2010-2011 $12.92 million general fund budget includes a 32-cent property tax rate increase expected to bring in over $2 million in additional funding.

On Thursday, voters turned down a $35 wheel tax increase predicted to draw in $1.4 million this year. Last year, the county commission approved a property tax increase of less than 1 cent after deciding against a budget committee proposal of an 8-cent property tax increase.

The currently proposed tax increase has enough money to cover any shortfall, county services and put $1 million back into the debt service fund, said budget committee chair Butch Shelton.

Next week, the county commission will publish a budget summary in local newspapers that gives a chance for public input before any vote is made. On Monday, multiple commissioners and county officials said if the county doesn't find a way to bring in more money, the state will set a new tax rate. In the 2008-2009 budget, the county used the $1.4 million in reserves to cover a shortfall.

The county government has been running as frugally as possible over the last 20 years and now "we've got to bite the bullet," said County Mayor Joe Shepard.

"If you wait around and have the state come in, they're going to make sure we have debt service and (everything) cleared up," Shepard said "The schools are on $20 million a year, and we're running this whole county on $13 million. ... We've got to put the money back in debt service in case we have an emergency and have to borrow some."

Last fall, the county borrowed over $1 million in tax anticipation notice to cover the shortfall until property tax revenue came in. Earlier this year, commissioners held multiple budget workshops working with department heads on cutting their budgets to lessen a need for a tax increase.

Shelton said the county's property tax rate of 72 cents has been the lowest in West Tennessee and among the lowest in the state. If approved, the new rate would be set at $1.04 per $100.

County Budget Director LaNita VanDyke said it costs the county a little over $1 million monthly to pay the bills and that the majority of property tax revenue doesn't come in until December through February.

The county likely would have to ask the state for another tax anticipation note this year, and that could affect the county's A bond rating, she said.

Newly elected Mayor Tom "Spoon" Witherspoon echoed the sentiments of many commissioners concerned about the current state of revenue.

"Folks, we're about to get a whipping one way or another," Witherspoon said during Monday's meeting. "It's just who's going to give it to us. ... I'd rather take care of it here in house and don't take that black eye (from the state)."

Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.

Notices of property tax sale in St. Joseph County sent out

Posted: 10 Aug 2010 11:03 AM PDT

(Tribune Photo/GREG SWIERCZ)

Story Created: Aug 10, 2010 at 1:52 PM EDT

Story Updated: Aug 10, 2010 at 2:02 PM EDT

SOUTH BEND — Certified tax sale notices have been sent out on about 4,500 real property parcels in St. Joseph County with delinquent taxes from 2009, according to the county treasurer's office.

About 1,600 of the total properties were previously offered but not sold in the commissioners' certificate sale last February and March.

To remove a property from tax sale eligibility, all delinquent taxes, penalties and fees must be paid in full to the treasurer's office with cash or certified funds by Oct. 5.

The St. Joseph County tax sale will be Oct. 6 in council chambers on the fourth floor of County-City Building downtown.

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Property Tax Abatement For Growing Businesses

Posted: 09 Aug 2010 03:53 PM PDT

Bay County- One of the issues voters will decide is a property tax exemption for new or expanding businesses. Bay County has offered the tax break for 30 years, but it's about to expire.

In 1996 Trane air conditioning opened a new factory at the Lynn Haven industrial park, creating several hundred new jobs. A big reason was the county's property tax break for new industries. Since then the facility has expanded twice, creating even more jobs. "This year we've added an additional 200 employee's to the Trane Lynn Haven facility, so you can see the expansions we've had since we started. We just recently got the latest tax abatement which was another 10 year period for our latest expansion", said Jeff Frachiseur GM of Trane Lynn Haven.

It's success stories like this that has local business leaders pushing voters to renew the tax abatement as an economic insensitive for new industry. Not any new business can qualify.

The guidelines are specific and somewhat strict.

"In order to qualify you have to be a business with at least 50 employees new to Florida or you are a manufacture creating new jobs or expanding on a company that at least 50 percent of your income comes from outside the market place. It's a very limited group of businesses but they are the ones who make a difference", Janet Watermeier executive director EDA.

What has Trane meant to the local community? Frachiseur say's the impact is easy to measure.

"As far as an economic impact on the community projected in 2010 we are just looking at labor hour and salary labor spend for 2010 will be 23 million and if you add in the additional benefits that number goes in access to 30 million dollars so that is the economic impact as far as what Trane Lynn Haven spends on labor in this community", said Frachiseur. And the exemption only applies to county property taxes.

In 2009 Trane paid almost $300,000 in city and county taxes. "

They still pay taxes on the land they still pay water management district taxes and any of the bond issue taxes or any of the taxes voters vote in the only exemption they get is on the building itself and personal property or mechanical or equipment", said Janet Watermeier Executive director EDA. Watermeier is hoping local residents will continue to see the break as an asset to the local economic effort. The extension of the property tax exemption incentive for new business and industry will be decided on the august 24th primary ballot.

Five Filters featured article: "Peace Envoy" Blair Gets an Easy Ride in the Independent. Available tools: PDF Newspaper, Full Text RSS, Term Extraction.
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