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Shelby County, City of Center set tax rates for FY 2015, hearings scheduled

The Shelby County property tax rate will stay the same for Fiscal Year 2015 after the Commissioners’ Court gave approval to a rate of $0.60 per $100 valuation during a special called meeting Wednesday morning. County Judge Rick Campbell said the proposed tax rate is what’s in the proposed Budget. Since the tax rate is above the effective rate, which is the total tax rate needed to raise the same amount of property tax revenue for Shelby County from the same properties in both the 2013 tax year and the 2014 tax year, two public hearings will be held before the final approval of the rate. Those public hearings are scheduled for 9:30 a.m. on Aug. 22 & Aug. 25.

 

Similar action for the City of Center, as the Council approved a resolution to adopt a tax rate to not exceed $0.53 per $100 valuation at their meeting Monday night. Before the rate is set in stone, two public hearings are scheduled at 5 p.m., on Aug. 25 and Sept. 8. City Manager Chad Nehring said the Fiscal Year 2015 Budget is being developed with a proposed tax rate that could be established higher than the effective rate of $0.51, which is the total tax rate needed to raise the same amount of property tax revenue for the City of Center from the same properties in both the 2013 and 2014 tax year. The rollback tax rate is $0.54, which is the highest tax rate the City of Center may adopt before voters are entitled to petition for an election to limit the rate. Nehring said the Fiscal Year 2015 Budget is still in draft form, and options are beginning to be narrowed this month to develop the presented Budget required for consideration during September meetings.

 

 

 

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