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Chatham to increase tax rate 4 cents

Posted Wednesday, June 22, 2005

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The Chatham County commissioners voted 4-1 Monday to increase the tax rate 4 cents to 59.7 cents per $100 of property valuation.

That's a 7.2 percent increase in revenue after adjusting for this year's property re-evaluation. Chatham county is set to spend $62.5 million during the 2005-06 fiscal year -- a 10.5 percent increase, $5.9 million more than in the 2004-2005 budget.

The tax increase will pay for a new buildings to accommodate Chatham's growth over the last decade, including:

• A new elementary school in Siler City
• A new middle school in northeast Chatham County
• A new, larger cafeteria for Jordan Matthews High School
• Renovations to Horton Middle School
• Phase I improvements for the County’s business park in Siler City
• A new Community College Job Training Center in Siler City (to be located within the County’s business park)
• A new building for the Pittsboro campus of Central Carolina Community College (CCCC)
• An expansion of the Social Services building
• A new Judicial Facility
• A joint CCCC/County Library

The commissioners also included $64,893 for the Chatham County Economic Development Corp., contingent on the group's compliance with state open records and public meeting laws.

The commissioners turned down a raise for themselves and another $1.2 million requested by the Chatham County school board.

The county tax rate will increase 4 cents, from a "revenue neutral" 55.7 cents per $100 valuation. Another $1.2 million that County Manager Charlie Horne also originally suggested be financed with a tax increase will instead be taken from the county's reserve fund.

The revenue-neutral rate factors in the 3.2 percent inflationary increase in county expenses and the county's increased land value.

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Tax liability for a person in Chatham County with a $100,000 home in 2005 ($128,900 after revaluation) and a $20,000 vehicle.

FY 05 FY 06 Difference

House $646.40 $717.97 $71.57

Vehicle $129.29 $111.41 (17.88)

Total $775.68 $829.37 $53.69

Source: Chatham County Manager's office

 
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