The proposed 2023-24 Fiscal Year general fund budget for Jackson County totals just over $88.1 million, an increase of about 5.9% over the current fiscal year amended budget. It is balanced with a tax rate of $0.38 per $100 of value.
Macon County has experienced incredible growth over the past several years, both in population and property values. Despite this increase in the tax base, county administration is recommending a revenue neutral tax rate that would leave Macon residents with the lowest property tax rate in the state, but with a public school system in need of more funding.
With long-term debt rolling off the books and a number of high-dollar, high-profile projects on the horizon, Haywood County commissioners will have some tough decisions to make following a presentation by the county’s financial advisor.
Decisions about following through with the new Franklin High School project were always going to fall to a new board of commissioners made up of different members than those who occupied the seats when plans were first initiated.
Starting in March, members of the Eastern Band of Cherokee Indians may have the chance to sign up for a program that will let them receive casino distributions without reporting them as income on federal taxes.
Jackson County residents can expect to see a two-cent tax increase in the coming fiscal year, rising from $0.36 to $0.38, if commissioners accept the proposed FY 2022-23 budget. Much of the revenue from that tax increase will go toward the construction of a new swimming pool .
Declining revenues and a growing list of capital improvements are both putting the squeeze on Waynesville’s finances, but a proposed 2-cent increase in property taxes might not be enough to address them all.