|San Jacinto News-Times - Local News
Copyright 2011 - Polk County Publishing Company
Public hearings set on proposed tax rate
San Jacinto News- Times
COLDSPRING – Public hearings to adopt San Jacinto County’s proposed 2011-12 tax rate has been scheduled for Sept. 2 and Sept. 9 at 9 a.m. in the commissioner’s courtroom. The hearings were scheduled last Friday during a special meeting of the court when the proposed tax rate of 0.6586 cents per $100 valuation was announced. The proposed rate is 3.23 cents higher than the 2010-2011 tax rate of 0.6263 cents per $100 valuation. The 2011-12 effective tax rate (the amount it would take to generate the same amount of funds as last year) is 0.6378. According to San Jacinto County Judge Fritz Faulkner, the county lost about $20 million in property value from last year to this year. The county’s total market value in 2010 was $2.3 billion compared to the total market value in 2011 of $2.2 billion. The county’s oil, gas other minerals went down from $85.2 million in 2010 to $57.3 million in 2011. The county had an actual total market value decrease of $18.6 million from last year to this year with $27.8 million of the total $2.2 billion loss being in oil, gas and other minerals. The county had a fund balance of $2.7 million. Of that amount $350,000 went to pay the county’s jail note. The remaining amount has been budgeted for increases in group health insurance, dental insurance and other insurances, fuel costs and employee benefits and a contingency fund totaling about $89,000. The new proposed tax rate does not allow for salary increases or capital outlay in the county’s proposed budget which can be viewed on the county’s website at www. co.sanjacinto.tx.us. A copy may also be viewed in the county clerk’s office.