Members of the Vermilion County Board placed their proposed new budget and tax levy on public display last night. Final votes on the documents are expected next month.
County Board Chairman Larry Baughn says hard work by department heads and members of the county board paid off…
Audio Player{AUDIO: ‘’I think the General Fund sits with a little bit of – about a $2-million dollar surplus. Not a lot of ARPA (American Rescue Plan Act) money has been spent toward that. Again, we want to build that surplus for later years so there’s no tax increases. And, as we said, in the tax levy – with the EAV (Equalized Assessed Value) rising – I believe the tax levy actually went down – percentage wise – this year. So we’re not passing anything along to the taxpayers for it and we’ll end up with a surplus in the General Fund.’’}
Estimated expenditures in the proposed Fiscal Year 2022-23 budget total just below $46-million-978-thousand dollars. Estimated revenues total nearly $46-million-171-thousand dollars.
Steve Fourez is chairman of the County Board’s Finance Committee. He says revenues for this fiscal year are above 100-percent of budgeted revenues – with two months to go in the fiscal year.
It is currently estimated that the County’s tax rate will drop a little from 1.869 (or a dollar 87 per $100 of equalized assessed value) for Fiscal Year 2021-22 to 1.846 (or a dollar 85 per $100 of equalized assessed value) for Fiscal Year 2022-2023.
