The committee is comprised of Trigg County Judge/Executive Stan Humphries, Magistrates Kevin Terrell and Doug Taylor, Fiscal Court Secretary Ruth Ann Mitchell and County Treasurer Jeannie Reinitz.
The fiscal court controls tax rates for both county and hospital/ambulance districts. Revenue is generated from taxes on real estate, new property, personal property, motor vehicles and watercraft.
Humphries said that the court held domain over county and hospital taxes, and that school and library levies came from two separate tax districts.
In his recommendation, Taylor, as head of the committee said, “I take a level of pride that we can operate the county efficiently enough to not need to burden our citizens as much as other counties in surrounding areas. Many people have moved here for the lower taxes. With the increase to the insurance premium tax and the larger than anticipated new development in the county, I see no reason to raise taxes.”
“We are fortunate that we are in a situation where we have the most new property ever in Trigg County,” said Humphries. “Since we have the additional revenue from new property and increased property values, I think it would be wise to leave the tax rate where it is, and adopt a compensating rate.”
The compensating rate adjusts the amount of revenue the county collects from taxes, accounting for new property and increased property values. Humphries noted that if property values depreciated, the county could have seen the property values decrease.
Humphries noted that the Trigg County School District planned to raise taxes and felt it to be unwise to give taxpayers an additional burden of increased county taxes.
Taylor added, “I do not believe in taking the four percent just because we can.”
For the rest of this story, read this week's Cadiz Record.