The Franklin County Commission is getting set to begin its budget process for the upcoming year – and this week they learned that they will have much less money to budget with. County property appraiser Doris Pendleton told commissioners on Tuesday that the taxable value for property in Franklin County has fallen by almost 450 million dollars over the past year. The taxable value this year is 3.5 billion dollars – last year it was just under 4 billion. Some of the loss is due to an increase in homestead exemptions approved by the state this year – that lowered the taxable value by about 85 million dollars. An increase in exemptions for senior citizens took another 1.7 million. The rest is due to declining property values. In real terms it means the county will have about 2 million dollars less to budget with this year than last. County planner Alan Pierce said this is first time in at least 20 years that Franklin County has seen a decline in its tax base.
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