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(KLZA) -- Due to a valuation increase of 10.5 percent in Richardson County, the proposed tax levy for the next fiscal year will be down 6.8 percent to 36.48 cents per $100 of assessed valuation. The valuation of Richardson County has increased $105,773,448 to a total of $1,105,332,562.
Even with the decrease in the levy, the tax requirement for the budget is 3.5 percent higher than last year at $4,031,816. This is the first time the tax requirement for Richardson County has surpassed the four million dollar plateau.
The proposed budget of expenditures is $12,558,409, including $300,000 for cash reserves. That represents a 9 percent increase from 2012 expenditures amounting to an additional $1,046,528.
During Tuesdays meeting, Richardson County Commissioners David Sickel, Jim Davidson and Jim Standerford approved the additional 1% budget authority. Public hearings for the budget proposal was scheduled for 10 a-m on Tuesday, September 17th and on the 2013 County tax rate at a different amount from the prior year for 10:15 a-m the same day.
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