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2006 Proposed Tax Rates For Hardin County 12 September 2006

2006 Proposed Tax Rates For Hardin County 12 September 2006. 2005 County Property Tax Allocation. State 21.9 % $7,026,321. Schools 59.3 % $18,995,086. County 14.3 % $4,596,183. $32,055,023 Total Collected by Sheriff’s Dept. Special Districts 4.5 % $1,437,433.

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2006 Proposed Tax Rates For Hardin County 12 September 2006

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  1. 2006 Proposed Tax Rates For Hardin County12 September 2006

  2. 2005 County Property Tax Allocation State21.9%$7,026,321 Schools59.3%$18,995,086 County 14.3%$4,596,183 $32,055,023 Total Collectedby Sheriff’s Dept. Special Districts4.5%$1,437,433

  3. Budgeted Revenue by Source2006/2007 Budget Year All Other Revenue Sources $28,146,866 84.3% Real Estate Property Taxes $4,300,000 12.9% Motor Vehicle Water Craft $575,000 1.7% Tangible Personal Property $375,000 1.1% $33,396,886 Total Revenue

  4. Hardin County GovernmentReal Property Taxes Budget Year 2005/2006Value of Real Property Subject to Rate=$3,911,630,604 Budget Year 2006/2007Value of Real Property Subject to Rate=$4,177,780,704 *(Cents Per $100 Valuation)

  5. Gross vs. Net Revenue Based on 2006 Real Property Tax Rates *Net of: 1. Estimated Collection Rate By Sheriff’s Office = 0.97% 2. Fees to Sheriff’s Office (10% of First $5K + 4.25% of Balance)

  6. 2006/2007 Property Tax Revenue Budgeted vs. Estimated Net 1 Based on Past 7 Years of Revenue Trends 2 Real Property @ 11.2cents per 100 Valuation; Tangible Personal Property @ 11.5cents per $100 Valuation Motor Vehicle and Water/Aircraft @ 11.5 cents per $100 Valuation

  7. Property Taxes 2005/2006 vs. 2006/2007 1 Based on past 7 year history 2 -Real Property @11.2 cents per 100 Valuation - Tangible Personal Property @ 11.5 per cents 100 Valuation - Motor Vehicle and Water/Aircraft @ 11.5 cents per 100 Valuation

  8. Real Property Tax Rate History(Cents per $100 valuation)

  9. Proposed Real Property Tax of 11.2% • Same as last year’s rate of 11.2% • Provides $298,088 more gross revenue than last year’s projections • Equals lowest rate since 1991

  10. Proposed County 2006 Tax Rates *Cents per $100 valuation

  11. Questions?

  12. Budgeted Reserve Funds Used to Balance 2005/2006 Budget FENCED

  13. Budgeted Reserve Funds Committed to Balance 2006/2007 Budget FENCED

  14. General Reserve Expenditures (Millions) $0

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