Tax revenues increase in Gregg County

By BRENDA ALLUMSnews1@kilgorenewsherald.com

Gregg County Commissioners have scheduled a public hearing on a proposed tax revenue increase for 9 a.m. Monday in the Commissioners’ Courtroom on the third floor of the courthouse.

Following the public hearing, commissioners are expected to vote on the matter in regular session.

During last week’s commission meeting, County Judge Bill Stoudt said county taxes are expected to increase but not due to a hike in tax rates but because of a “substantial increase in property valuation.”

The current county tax rate is 28 cents per $100 valuation.

In 2005, county property was appraised at $5.46 billion, while the 2006 appraisal is $5.93 billion.

Stoudt said tax revenues are expected to increase about $1.8 million next year.

“The increase (in revenue) is coming from increased valuations,” Stoudt said. “Mineral values are up substantially over last year and we’ve experienced modest growth in the county.”

Revenues this year, excluding grants, totaled $32. million. Project revenue, again excluding grants, is estimated at $33.9 million for the next fiscal year.

The proposed operating budget is $32,012,862 about $175,000 less than last year’s.

“We’re trying our best to hold the line on expenses,” Stoudt said.