by Jackie Nunnery
HEATHSVILLE—Northumberland county administrator Luttrell Tadlock on Wednesday, April 20, presented the first draft of the 2022-23 fiscal year budget in a special called meeting with the board of supervisors.
Tadlock indicated projected revenues total $36,790,798 based on the current real estate tax rate of $0.61 per $100 of assessed value, “but we can look at what other tax rates would do to the bottom line.” The real estate tax rate was increased last year from $0.59 per $100 of assessed value and according to Tadlock, each $0.01 tax levy increase is equivalent to approximately $280,000. With an anticipated beginning balance of $8,500,000, up from last year’s of $7,500,000, the total anticipated revenues are $45,290,798.
He also included a potential loss of $215,000 in grocery tax revenue should that source of funding be eliminated by the General Assembly during the budget process, not yet completed as of press time.
Estimated expenditures are $38,995,792, up $2,091,421 or 5.6% from the current budget and exceed projected revenues by $2,204,994. “There is a 5% pay increase proposed that would cost….
more to this story,
and many more news articles, photos and ads available only in our online e-Edition or in the printed version. Become a subscriber today!
• To access or subscribe to the e-Edition, go - HERE
• To subscribe to the printed version, go - HERE
• To buy the printed version at a newsstand, - HERE are our locations.
For assistance, please call us at 804-435-1701, extension 16.