4/10/2001 - Laserfiche WebLink

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Budget Manager Jason Brown felt there would be a lower number of filings than originally projected. Staff estimates that of the total homestead exemptions of 28,000, about 2,065 would be eligible for the additional exemption. The impact on ad valorem taxes would be approximately $328,674 for all county taxing funds. Rather than a tax loss, it will be more of a tax transfer to other residential and commercial properties. Assistant County Administrator Joe Baird noted that the county is the only taxing district the Board controls but emphasized that staff believes this is an outside number. The state estimate was very high. Commissioner Stanbridge stated that she had a number of calls regarding this issue and some of the people who called were in a very critical financial position, having to decide between paying for prescription drugs or property taxes. Mr. Brown noted that, based on a $100,000 assessed value, those who qualify for the additional exemption would see their taxes go from $618 to $415. Those who do not qualify would only see an increase of approximately $3.82 based on the projections. Chairman Ginn questioned whether the Property Appraiser has staff to deal with this and what proof of income will need to be provided. Property Appraiser David Nolte stated that his staff is ready and able to handle the exemption and he believed the proof would be an income test, rather than an asset test. Income tax returns would most likely be used. Commissioner Macht felt this would establish an opportunity for fraud. He believed that property taxes fall hardest on young families who are trying to establish a home. He did not believe it would be a fair exemption and felt that the Legislature could have provided for this additional exemption but wished to shift the burden down to the local level. He was opposed to the additional exemption. APRIL 10, 2001 -70-