[Bill14564]

Originally Posted by Villages Kahuna

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So that brings the situation up-to-date. The first portions of the 25% increase would have been assessed to balance the proposed 2022 County budget based on the assessed valuation of taxable property as of the end of 2021. As the result of the rollback the County budget cannot be balanced totally with property tax revenues. There will have to be a combination of other budget reductions and revenue sources identified in coming months.

So, if some taxpayers incurred large increases in their 2021 tax bills, it was not the result of the 25% increase authorized by the county commissioners in late 2019. The authority for those tax increases has been overturned by the new commissioners. Impact Fees payable by the Developer were simultaneously passed. But the impact fees are insufficient by themselves to balance what is likely to be a 2022 County budget. Significant amounts necessary to balance the 2022 budget will have to come from some combination of spending reductions (including roads and infrastructure), further contributions by the Developer, and increased property taxes deemed appropriate by the commissioners.

Public finance and taxation is complicated. There are complicated, arcane laws, regulations, requirement s for public disclosure, hearings, etc. Hopefully, this post simplified things a bit and TOTV readers have gotten this far.

The millage rates on my 2019 and 2020 tax bills say otherwise. Increased from 5.34 in 2018 to 6.7 in 2019 (the 25% increase) and reduced to 6.43 in 2020.