August 27, 2024 - The Shelby County Commissioners were informed of potential tax rates during their August 7, 2024 meeting by the Tax Assessor-Collector.
Debora Riley, Shelby County Tax Assessor-Collector, submitted calculated tax rates for the commissioners to consider. (Click here for - Shelby County 2024 Adopted)
“So it's that time of year we talk about these tax rates. I'm going to start with our 2023 tax year. We had adopted .5965. That was our tax rate for the 2023 year. Now your reports for my collections are going to be as of June 30th, but I'm going to give you the rate of where we're at on collections as of July 31st. I added that in. It's $12,436,432. This includes our current and our delinquent tax to the general fund and the special road and bridge fund. Our collection rate for the 2023 is at 99% if you include all that together,” said Riley.
Riley then gave the property tax rates as follows, “The no new revenue rate, that's a rate which is to impose the same amount of taxes as last year you compare the property taxes in both years,” said Riley. “Your no new revenue rate comes in .663022 and our voter approval rate comes in at .695652.”
Clint Porterfield, County Auditor, elaborated on some of the information Riley presented to the commissioners.
“Court, I'd like to just add a couple of things to what the tax assessor has mentioned. You just heard that the no new revenue rate is about seven cents more than what our current rate is, and the reason behind that is that our certified values this year have the largest decrease from the previous year in the 12 years that I've been looking at this,” said Porterfield. “The largest decrease in certified value in 12 years from one year to the next. So from 2024 certified values to this year's certified values, We had a decrease, I'll just round this off, of $171 million. That's the largest we've ever had from year to year in 12 years. So, obviously, to get the same revenue as last year, that tax rate will have to go up, just to maintain what we did last year.”
Porterfield explained that if the county wants to capture what is allowed by SB 22, 3.5%, then the tax rate will have to go past the number stated of the new revenue rate.
“The tax assessor had some information there for you. We are looking at a number right now that's another cent and a half to two cents more than that no new revenue rate to get up to that three and a half percent that we're allowed, so those are the things that we're pondering at this moment,” said Porterfield.
Judge Harbison stated they are at the maximum right now so there will be no change because of that, “Do I have a motion that we do not take any action because we're at the max on those?” Judge Harbison then asked again for a motion to retain local optional fees and Commissioner Stevie Smith complied. Commissioner Tom Bellmyer seconded the motion and it carried.
The commissioners opened bids from two companies for belly dump trailers and accepted a bid from Performance Truck totaling $197,986.32.
Commissioner Stevie Smith moved to accept the bid, and his motion was seconded by Commissioner Jimmy Lout. The motion carried.
The meeting adjourned at 10:37am.
Agenda itemsa approved during the meeting include: 1. Weekly expenses. 2. Open and review bids for Belly Dump Trailers to be purchased through ARPA Funds. Possibly award bid if all requirements are met and acceptable bid is received. 3. Retain local optional fees, for the calendar year 2025. 4. Renew the yearly contract in the amount of $4,600 with Computer Information Concepts for the Tax Office. 5. Sheriff’s Department to request bids for four 2024 Ford F-150 trucks to be paid from SB 22 Grant Funds. 6. Adjourn.
