MADISON – Madison County officials are trying to keep property taxes from changing too much next year.
The County Board of Commissioners Wednesday approved the fiscal 2017-18 budget. Overall, the amount of property taxes levied by the county is up about two-point-eight percent. However, since property values countywide went up by virtually the same amount, the tax levy is down slightly.
So what does that mean for tax-payers? If you have a a $100,000 property and your valuation didn’t change, the amount of taxes you pay to Madison County will go down, by about seven cents.
All told, property taxes make up about 34 percent of the funds needed to run the county next year. General fund expenditures, by far the largest portion of the budget, are up only slightly in 2018, while the road and bridge fund is increasing by four-point-six percent.
The new figures take effect with the start of the new fiscal year on October 1st.
DETAILS ON THE BUDGET ARE BELOW, COURTESY MADISON COUNTY (CLICK TO ENLARGE):