Area Property Taxes To Increase A Small Amount
|
August 30, 2018
|
|
Isaac Estes-Jones
Readers living in the Crane, Galena and Hurley school districts, as well as residents of those cities, will all see very slight increases on their property taxes. Property in Stone County was reassessed and total valuation for 2018 is $618,363,135, according to Stone County Assessor Brad Hudson. In 2017, the total assessed value was $602,393,729, meaning the increase for 2018 is $15,969406.
The tax ceiling (maximum amount) for each tax entity (school district, municipality, etc) is based on the total assessed value of property within the individual areas, passed through a formula from the State Auditor’s office. “Tax districts can set what their tax rates are each year. They are not required to propose the top rate,” Hudson said.
Further, per state statute, property tax rates cannot increase beyond the amount necessary to maintain the same level of revenue as the previous year, with an exception made for increases for inflation and for increased valuation due to new construction. Rate increases beyond those specifically called for in the statutes must be approved by voters.
The Stone County Disabilities Board increased their proposed tax rate to $0.1014 per $100 of assessed valuation, an increase of $0.0014. This tax rate will affect the entirety of Stone County. The Stone County Developmental Disability Board had a tax rate of $0.1000 last year. The board approved the rate at their August 23 meeting.
Residents of area municipalities will also see a slight increase. The Village of McCord Bend will hold their tax rate meeting on Tuesday, September 11. The proposed tax rate ceiling for the village is $0.5139 per $100, up from $0.5000 last year.
The City of Crane held their tax rate hearing earlier this week, on Tuesday, August 28. The city’s general revenue tax rate increased to $0.8357 per $100, up from $0.8335. The parks tax rate was set at $0.1338. Last year, that rate was $0.1334 per $100. The total increase for the City of Crane this year is $0.0039 per $100 in assessed value.
Hurley’s city property tax ceiling increased from $0.7441 in 2017 to $0.7595 per $100 in 2018. This represents an increase of $0.0154.
The City of Galena set their tax rate to $0.5468 per $100 of valuation, up from $0.5362 last year, an increase of $0.0106.
The Crane School District set their incidental tax rate to $3.3000 per $100, and left the Debt Service rate at $0.9900 for a total of $4.2900 per $100 this year. Last year’s incidental rate was $3.2906, $0.0094 less than this year.
Galena and Hurley School Districts also left their debt service levy at the same amount this year. For Galena, that is $0.6154 per $100 assessed, and for Hurley it is $0.6666. Galena School District uses an incidental fund for the districts budgeting needs. The Galena School District 2018 incidental fund tax rate is $3.4366 per $100, up from $3.4227 last year. The total tax rate for Galena schools is $4.052 per $100 in assessed valuation.
Hurley School District uses an operating fund for the day-to-day functioning of the school. The 2018 tax levy for that fund is $3.9283
Readers living in the Crane, Galena and Hurley school districts, as well as residents of those cities, will all see very slight increases on their property taxes. Property in Stone County was reassessed and total valuation for 2018 is $618,363,135, according to Stone County Assessor Brad Hudson. In 2017, the total assessed value was $602,393,729, meaning the increase for 2018 is $15,969406.
The tax ceiling (maximum amount) for each tax entity (school district, municipality, etc) is based on the total assessed value of property within the individual areas, passed through a formula from the State Auditor’s office. “Tax districts can set what their tax rates are each year. They are not required to propose the top rate,” Hudson said.
Further, per state statute, property tax rates cannot increase beyond the amount necessary to maintain the same level of revenue as the previous year, with an exception made for increases for inflation and for increased valuation due to new construction. Rate increases beyond those specifically called for in the statutes must be approved by voters.
The Stone County Disabilities Board increased their proposed tax rate to $0.1014 per $100 of assessed valuation, an increase of $0.0014. This tax rate will affect the entirety of Stone County. The Stone County Developmental Disability Board had a tax rate of $0.1000 last year. The board approved the rate at their August 23 meeting.
Residents of area municipalities will also see a slight increase. The Village of McCord Bend will hold their tax rate meeting on Tuesday, September 11. The proposed tax rate ceiling for the village is $0.5139 per $100, up from $0.5000 last year.
The City of Crane held their tax rate hearing earlier this week, on Tuesday, August 28. The city’s general revenue tax rate increased to $0.8357 per $100, up from $0.8335. The parks tax rate was set at $0.1338. Last year, that rate was $0.1334 per $100. The total increase for the City of Crane this year is $0.0039 per $100 in assessed value.
Hurley’s city property tax ceiling increased from $0.7441 in 2017 to $0.7595 per $100 in 2018. This represents an increase of $0.0154.
The City of Galena set their tax rate to $0.5468 per $100 of valuation, up from $0.5362 last year, an increase of $0.0106.
The Crane School District set their incidental tax rate to $3.3000 per $100, and left the Debt Service rate at $0.9900 for a total of $4.2900 per $100 this year. Last year’s incidental rate was $3.2906, $0.0094 less than this year.
Galena and Hurley School Districts also left their debt service levy at the same amount this year. For Galena, that is $0.6154 per $100 assessed, and for Hurley it is $0.6666. Galena School District uses an incidental fund for the districts budgeting needs. The Galena School District 2018 incidental fund tax rate is $3.4366 per $100, up from $3.4227 last year. The total tax rate for Galena schools is $4.052 per $100 in assessed valuation.
Hurley School District uses an operating fund for the day-to-day functioning of the school. The 2018 tax levy for that fund is $3.9283