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County tax rates held at ’09 levels

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By Phyllis McLaughlin

The Trimble Banner

Real estate and personal property tax rates in Trimble County will remain the same in 2010-11 as they were for 2009-10.

Trimble County Fiscal Court voted unanimously Monday, Aug. 16, to hold the tax rate on real property at 7.20 cents per $100 of assessed value. That means the owner of a home valued at $100,000 will pay $720 in county taxes this year.

The personal property tax rate also remained the same, at 7.50 cents per $100 of assessed value.

The county is allowed, by state statute, to increase real and property tax rates by 4 percent annually. However, Judge-Executive Randy Stevens said the tax rates have been the same in Trimble since at least 2003, when he took office.

The total revenue expected in 2010 on property taxes is $267,088. A 4 percent increase would have raised the revenue amount to $274,507 – a difference of about $7,500.

“The point I would make, while looking long and hard about needing additional revenue, is, one, a

4 percent increase isn’t going to solve our problems; and two, this is a tough time to reach into the pockets of our constituents in a time of economic downturn,” Stevens told the magistrates.

Also staying the same are the county’s tax rates for motor vehicles and watercraft – both rates stayed at 8.8 cents per $100 of assessed value. Those taxes are expected to generate about $46,000 in revenue for the county.

The court also voted 4-0 to leave those tax rates the same as last year.