Commissioners approve no-new tax rate for 2020




County Tax Tssessor Loretta Holley presented commissioners with the no-new tax rate and voterapproval tax rate for 2020.

On Monday, commissioners accepted Holley’s 2020 tax rate calculation report.

This year’s adjusted no-new revenue tax rate is 55.29 cents per $100 valuation.

The no-new tax rate enables the public to evaluate the relationship between taxes for the prior year and for the current year based on a tax rate that would produce the same amount of taxes (no new taxes) if applied to the same properties that are taxed in both years.

When appraisal values increase, the no-new revenue tax rate should decrease.

The 2019 total adopted tax rate is 42.02 cents per $100 valuation.

Commissioner Stuart Knowlton asked that with the reduction in value would the rate keep revenue at the same level.

Holley said it would.

This year’s total voterapproval tax rate is 57.94 cents per $100 valuation.

“You can’t go over that,” Holley said.

Leave a Reply

Your email address will not be published. Required fields are marked *