A substantial Richardson County valuation increase translates into a levy decrease for 2013, according to numbers provided by Richardson County Clerk Mary Eickhoff.
The county’s valuation for 2013 increased by $105,773,448 (10.5%) to $1,105,332,562, the highest in recorded history. The valuation for 2012 was $999,559,114.
As a result, the 2013 levy will decrease by 6.8%, or .024924 cents per $100 of valuation. The levy for 2013 is .364760 per $100 of assessed valuation. In 2012, the levy was .389684.
The Richardson County Commissioners have proposed a budget of expenditures for 2013 of $12,558,408.87 (including $300,000 in cash reserve), an increase of $1,046,527.67, or 9%. Actual expenditures in 2012 were $11,211,881.20.
The proposed tax requirement for the new budget is $4,031,816.08, an increase of $136,689.31 (3.5%) when compared to 2012.
Mrs. Eickhoff included an example: county taxes for a property assessed at $100,000 in valuation would be $364.76 in 2013, compared to $389.68 in 2012 (a decrease of $24.92).
County valuation numbers have steadily increased, from a low of $339,147,002 in 1997. Tax requirements have generally increased, too, from a low of $1,284,174.85 in 1998.
Public hearings on the budget proposals are scheduled for Tuesday morning, Sept. 17.