During the May 16 Harnett County Board of Commissioners meeting, County Manager Brent Trout presented the recommended budget for the 2023 fiscal year.
“Harnett County prepares the annual budget in accordance with the statutory requirements with consideration of enhancing the quality of life for our residents,” stated Trout. “The budget has been prepared with the purpose of supporting the strategic goals and priorities of the county commissioners.”
The County’s budget estimates the total value of resources required to perform operations and support citizens' needs. It also sets tax rates and fee schedules for the year which is the main funding for the budget.
As part of the upcoming fiscal year, Harnett County’s recent property reappraisal provided data on predicted revenue that can be received based on new property assessments.
“The property tax revaluation increased our assessed values by approximately $3.8 billion,” added Trout. “The growth that we have experienced has pushed valuations of homes and properties to levels never seen before in Harnett County. The appeal process for property owners is still ongoing, so a clear amount of change that may occur to the total valuation is not known at this time.”
Harnett County's current property tax rate is $0.75 per $100 valuation. This known valuation reduced by the expected valuation loss provides a calculation of a revenue neutral tax rate to be $0.561 per $100 valuation
In order to meet the residents' continued needs, Trout recommended a new tax levy rate of $0.591 which is $0.03 more than the revenue neutral tax rate.
Harnett County Board of Commissioners will hold a public hearing on Monday, June 6 at 9 a.m. at the Harnett County Resource Center & Library in Lillington. The Commissioners are scheduled to approve the budget at the June 20 regular meeting.
For more information, contact the Harnett County Manager’s Office at 910-893-7555.
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