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There are no increases in county taxes, as the Floyd County Board of Supervisors will hold a public hearing on the 2008-09 budget Tuesday evening at the County Administration Building. The meeting will start at 7 p.m. The hearing is open to all county residents and those who wish to comment on the proposed budget may do so.
The anticipated expenditures and revenues balance at $31,938,141. That’s an increase of less than $3,000 over the 2007-2008 budget. A sharp decline in expenditures for the library absorbed almost all of the other line item increases. The $1,256,310 in last year’s budget included $1,000,000 for a VML-VACo pooled bond for library expansion. The county lists $287,545 for the library in the proposed budget. The public school fund is $21,339,055, a slight decrease from last year. The E-911 fund, $490,645, is also down slightly from last year. Anticipated local revenues are $11, 969,956, up over $200,000 from last year. State funding is anticipated at $3,851,336, an increase over $600,000. Should the budget be adopted by the Board of Supervisors, there will be no increase in the tax rates currently being assessed by the County. The current real estate rate is .06 per $100 assessed value and the personal property rate is $2.70 per $100 assessed value. Merchants capital is $3.50 per $100 assessed value. Public Service Corporation and mobile home rates are .60 per $100 assessed value.
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