Monday, August 2, 2010
The Claim that the SSVFD is Responsible for the Tax Increase....................
Some individuals have claimed that the main reason the TOSS had to increase taxes this year was due to the "demands" of the SSVFD. This should be pretty simple to figure out.
Tax Increases for the '10 -'11 Fiscal year:
Dare County: from $.26 per hundred to $.28, which equals $0.02 increase
TOSS: from $0.0975 per hundred to $.14, which equal $0.0425 increase
Combined Total Property Tax levied in TOSS: $.42
Requested from TOSS (under the new 10 year contract FD requests are to be in a tax levy equivalents): $0.03 per hundred.
Granted by the TOSS Council: $0.0275
Contract base rate established for '10 - '11 Fiscal Year: $.0.02
Increase of TOSS tax rate due to SSVFD request: $0.0075 per hundred
A home with a tax assessed value of $500,000.
Dare County @ $.28 = $1,400.00
TOSS @ $.14= $700.00
Total = $2,100.00
Increase over last year: $312.50
Of the above total tax ($2,100) the SSVFD was given: 137.50
Increase over budget base: $37.50
Obviously, the SSVFD was a component but not the cause of the tax hikes in the TOSS.