The 2022-2023 budget will raise more revenue from property taxes than last year's budget by an amount of $836,412 which is a 5.6% increase from last year's budget.
The property tax revenue amount budgeted from Lamar County's maintenance and operations (M&O) for the current budget year is $14,932,536. The amount budgeted for the prior two years is as follows:
2021-2022: 14,116,328
2020-2021: 13,435,858
The property tax revenue amount budgeted from Lamar County's debt service (I&S) for the current budget year is $774,439. The amount budgeted for the prior two years is as follows:
2021-2022: $754,235
2020-2021: $73,901
The breakdown of the adopted tax rate for 2021-2022 was M&O: 0.3425 and I&S: 0.0183 and for 2020-2021 was M&O: 0.3763 and I&S: 0.0177
The breakdown of the proposed tax for 2022-2023 is M&O: 0.3278 and I&S: 0.0170