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After a public hearing on the proposed budget and tax rate for Fiscal Year 2024, the Hardin County Commissioners Court voted to approve both during their Aug. 22 regular meeting.
According to County Judge Wayne McDaniel, the total FY 2024 expenditures for the General Fund is $20,853,691; Road and Bridge Fund is $5,735,832; Jury Fund is $908,324; and the Interest and Sinking Fund is $291,739 – for a total of $27,789,586, a total increase over FY 2023 of $1,410,131.
The adopted tax rate is 54.0835 cents per $100 property valuation. McDaniel noted the no-new revenue tax rate is 47.9865 cents per $100 valuation and the voter-approved tax rate is 54.3524 cents per $100 valuation. The voter approved tax rate is the highest tax rate the county may adopt without holding an election to seek voter approval of the rate.
According to McDaniel, the total tax levy from 2022 to 2023 increased by 15.34% from more than $20 million to $23.137 million; during the same period, the average homestead taxable value increased by 21% from $109,910 to $133,033.