Without a property tax increase, White County would have to cut $400,000 from programs, services, and people. That’s what we learned at Wednesday night’s Truth in Taxation hearing. Somewhere in the neighborhood of three dozen folks showed up specifically for the hearing. A dozen more were there for that and other business. Stoking the fire for the hearing was a social media post that suggested everyone was going to see an 18% increase in their property taxes. That was panned as misleading. Leaders say they’ve got a balanced budget and that the problem is a combination of the Safe-T Act which has resulted in losses in revenue amounting to around a quarter of a million dollars per year according to Circuit Clerk Kelly Fulkerson and also some disparity in home/property values in which many are undervalued according to board member Amanda Cannon, who is also a realtor.
Individuals aren’t going to see an 18% increase across their total tax bill, but rather closer to a 15% increase in the County tax line of their bill, that’s according to Dustin Harmon from Bellwether, the consulting firm assisting the White County Board with government services. When it comes to property values, Harmon explained it as a 44% jump over 4 years cumulatively.
The county’s equalized assessed value has increased by 44% over 4 years. Equalized assessed value is the value of properties at an assess rate which is 33 1/3 of the sellable value of those properties. The increase in farmland, increase in residential, increase in industries including minerals, solar obviously is a big one in this county, the value of all these properties combined has significantly increased over the last 4 years has caused that 44% jump.
For most with home/property values between 30,000 and $300,000, they can expect an increase of $13.54 to $135.39. The county did vote to approve the Tax Levy Ordinance later in the regular meeting.