Friday, May 4, 2012
In years past property values didn't mean much because budgets were what drove the levy rates and taxing districts could simply raise levy rates as their part of the equation to get the dollars they budgeted. This year just about all taxing districts are having to face the consequences of a BUDGET CAP.
Short version of all this is property values are going to be down by 8-10% as overheard in the meeting Commishes and Caldwell officials had regarding Sheriff Dispatch fees. In the audio tape that can be heard on the IPT website the percentages for property value decreases were not in dispute. This means about a $2 MM drop in property tax collections by the county. Cities will be facing the same 8-10% drop in property tax receipts. Property tax makes up about 1/3rd (give or take) of revenue to cities and counties.
They can't raise taxes due to THE CAP. This will be the year local governments are going to have to do what most citizens face on a daily basis; they will have to start living with less cash to fund local government operations. They are all going to be running on empty with respect to property taxation this year. Cuts, furloughs and all other options will be on the table to balance the budget.
Canyon County Sheriff budget is the biggest slice of the pie at over 50% of the total county budget. Just north of $34 MM based on the current budget. Here's a link to the County Clerk/Auditor's web page where you can check out all the departmental budgets and where your money goes:
Posted by Paul Alldredge at 1:23 PM