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Commissioner Jacobs said that it would not be unreasonable to contact the people <br /> whose properties have increased more than 100% (approximately 240 parcels). <br /> Commissioner Gordon said that a resident told her that on their 11-lot street, the values <br /> went up everywhere from 5%, 15%, 20%, and 34-38%. She said that the question is why there <br /> is a neighborhood with such drastic differences. <br /> John Smith said that when they analyze a neighborhood, they have to figure which sales <br /> have been improved or renovated, and then they have to look at everything else. <br /> Commissioner Jacobs asked about bulk mailing rates for a one-page letter. Jo <br /> Roberson said that it costs the tax office $6,400 for 5,600 one-page letters with an envelope and <br /> a return envelope. This includes paper costs, mail costs, production cost, return envelopes, etc. <br /> Geof Gledhill said that regularly the County approves late applications for Homestead <br /> Exemptions and these can be made up until December 31st. This same rule is for the Circuit <br /> Breaker Exemptions. <br /> Commissioner Jacobs said that for the last three years, an insert has been put into the <br /> tax bill about the Homestead Exemption. He said that similar information could be put in the tax <br /> bill about appeals and the Circuit Breaker Exemption. <br /> Donna Coffey made reference to Attachment 4 and said that this was information about <br /> four scenarios for the revaluation. The dotted line is the current tax rate and budget. <br /> Approved FY 2008-09 Budget: <br /> - Tax rate is 99.8 cents <br /> - Budgeted revenue from real, personal, motor vehicles, and public utilities is $126.9 <br /> million <br /> - Total County revenue— all sources including property tax$183.0 million <br /> Scenario 1 — Real property values increased due to 2009 revaluation, all properties <br /> assessed revenue neutral tax rate: <br /> - Tax rate would be 86.0 cents <br /> - Budgeted revenue would be $126.9 million <br /> - Total County revenue would be $174.3 million <br /> - Shortfall from FY 2008-09 budget would be $8.7 million <br /> Scenario 2— Real property values increased due to 2009 revaluation, real property <br /> owners whose property increased 24% or less (compared to 2008 valuations) <br /> "held harmless": <br /> - Tax rate would be 80.5 cents <br /> - Budgeted revenue would be $118.8 million <br /> - Total County revenue would be $166.3 million <br /> - Shortfall from FY 2008-09 budget would be $16.7 million <br /> Scenario 3— Real property values unchanged from 2008 values, property tax rate <br /> remains at FY 2008-09 approved rate of 99.8 cents per$100: <br /> - Tax rate would be 99.8 cents <br /> - Budgeted revenue would be $120.6 million <br /> - Total County revenue would be $168.0 million <br /> - Shortfall from FY 2008-09 budget would be $15.0 million <br /> Scenario 4— Real property values unchanged from 2008 values, total property tax <br /> received by County remains at FY 2008-09 approved amount of$126.9 million: <br /> - Tax rate would be 104.7 cents <br /> - Budgeted revenue would be $126.9 million <br />