The Marion County Commission will not raise or lower the mill levy from the previous year, and on Aug 7, the proposed budget for 2020 will be available for the public to review. The public hearing is planned for Aug 19.
Citizens of the county are encouraged to voice concerns or make comments at that time prior to the commission finalizing the budget.
Tina Spencer, the county clerk, provided the dollar amounts from the years 2018, 2019 and what’s expected for 2020.
The total amount received by the state and other funding sources in 2018, she said was $29,442,981, and of that, $9,715,466 was supported by ad valorem taxes. The ad valorem tax is based on the assessed value of the county’s real estate and other personal property.
In 2019, the total amount of revenue in the county budget was $26,933,433, with $10,134,197 in ad valorem taxes.
The 2020 budget is expected to be $28,182,634, Spencer said, with $10,416,326 coming from ad valorem taxes.
Another way of looking at property taxes is to look at the assessed value of real estate notification, and if it was the same in 2019 compared to 2020. If property taxes went up, she explained, then the ad valorem tax would go up, too.
Spencer provided some examples of properties that did experience a value increase.
“They will notice an increase based on the difference in value from the previous year calculated by the mill levy rate,” she said.
“Other factors that could affect everyone’s taxes, for instance, are changes to the school, city, township, cemetery, or districts,” she said.
The impact of the value increase if someone’s appraised value went up from $100,000 to $120,000 would be a 20 percent increase, which Spencer said was unlikely.
But for the purpose of this example, if a home had an appraised value of $100,000 and it went to $105,000, it would be a 5 percent increase and the taxes would increase by about $42.
More details regarding the proposed budget will appear in the Aug 14 issue of the Free Press.