Northampton County’s Proposed Budget Has A Tax Cut Of 6.5 Cent Ad Valorem Tax Decrease For Fiscal Year 2024. A Total Of $45,875,495 Budget Is Allocated And A $7 Million Increase Is What Makes The Budget Higher, Thus There Should Be A Tax Cut To Spend For Other Agenda.
(Photo: Northampton Chronicle)
Tax Cut in New Budget as a result of High Fiscal Budget the previous year
The Northampton County has Fiscal budget of $45,875,495 for 2024, there has been a $7million increase compared last year. Which is why according to County Manager Julian Phillips, there should be a 6.5 cent ad valorem tax decrease, which was presented during the meeting last May 15. The major contributor of the budget is the tax brought by real properties, land properties, in the county. The tax rate will drop abruptly after several years.
The County’s Property tax rate will be the revenue for the next fiscal year. Northampton runs the eight-year cycle of appraisal; the projection is based on 95% of tax collection. But if the ad valorem is added the revenue shoots up to $24 million for 2024, it is the second largest revenue. The largest expected expenditure from different departments are, to wit:
- public safety ($13 million);
- general government ($6.4 million);
- education ($6.2 million); and
- human services – health ($3.9 million)
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Philip explained in his presentation the major changes, one change includes the cost of living (COLA) and merit increase to the staffs. But it will not be effective immediately, although the percentage increase is higher to paramedics and ENT personnel. There is also a budget of $1.5 million for a new high school, the allocation is for the request from a school earlier this year. Philips said he will look for other incentives and before the meeting concluded Board Chair Charles Tyner said that they will look deeply to this proposal and look for better adjustments that will be benefit to all.
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