Proposed Property Tax Allocation for the 2017/2018 Fiscal Year

The Jefferson County Budget Committee will end the fiscal year 2017/18 budget season later this month when they present a balanced budget to the Jefferson County Commission for approval. The budget document will not include a tax increase for the upcoming fiscal year and will see the property tax rate stay at the current rate of $2.35. The breakdown of the budget that will be presented to the County Commission accounts for $2.35 property tax to be allocated among six funds – 101 General Fund will receive the largest portion of the split at .89 pennies. Jefferson County Schools follows closely with their 141 fund receiving .87 pennies of the property tax. Account 151, which is the County Debt Service account, will get .22 pennies, and the Capital Fund 171 will get .02 pennies.

The Solid Waste account 116 will see a .15 penny allocation, and the Highway account 131 will receive .20 pennies allocated to its fund. The breakdown of pennies shows the way the $2.35 property tax is divided among departments. This year, a penny of property tax is estimated to be worth $119,000 and will bring in an estimated total of $27,965,000. The revenue brought in from property tax will be combined with other revenue, such as sales tax, to fund the expenditures in Jefferson County for the upcoming fiscal year.