Moore County Lowers Property Tax Rate
Moore County’s Board of Commissioners unanimously approved a fiscal year (FY) 2024 budget that includes a lower property tax rate.
Commissioners said they wanted to keep taxes as low as possible because of the impact of inflation.
“I appreciate the staff working on not raising the taxes and keeping money in people’s pockets,” said Commissioner Jim Von Canon.
The $213.6 million budget, which begins July 1, will generate revenue from a number of different sources, but most of that money will come from the property tax rate.
That rate, which had been 48.5 cents for every $100 of property value, was decreased to 33 cents. Such a dramatic reduction was made possible because 2023 was a revaluation year for Moore County. Property appraisers every four years adjust values based on market conditions.
Moore County, which has seen a white-hot real estate market the last few years, saw average values increase about 50 percent, meaning each penny in tax now generates more money for the county.
“We didn’t feel like it was time to raise taxes,” said board Chairman Nick Picerno. “We can always raise taxes, and sometimes it might be easier, but when we ran as a board we said we would protect the taxpayers’ dollars.”
County Manager Wayne Vest said the goal of the budget was to not increase the “tax burden” on citizens.
Other county tax adjustments for FY 2024 include:
* The Advanced Life Support tax, which funds the county’s paramedics and ambulances, will be 3.75 cents for every $100 of value. This will help fund the addition of 12 new paramedics and a new ambulance.
* The Rural Fire Protection tax, which funds fire protection in the unincorporated areas, will be 8.75 cents for every $100 of property value. Money from that tax goes to fire departments for equipment and other needs.
(Original story by Elena Marsh, The Pilot)
2023 Moore Entrepreneurial Summit on November 14th Will...
26 September 2023
State Budget Includes $25 Million for New ‘Early...
25 September 2023
Moore Regional Named in 100 Top Hospitals® for...
21 September 2023
Robbins Updates Ordinances for Industrial Purposes
20 September 2023