The 2021-2022 budget will raise more revenue from property taxes than last year's budget by an amount of $1,420,200 which is a 10.2% 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 $14,116,328. The amount budgeted for the prior two years is as follows:
2020-2021: 13,435,858
2019-2020: 13,482,883
The property tax revenue amount budgeted from Lamar County's debt service (I&S) for the current budget year is $754,235. The amount budgeted for the prior two years is as follows:
2020-2021: $73,901
2019-2020: $615,168
The breakdown of the adopted tax rate for 2020-2021 was M&O: 0.3818 and I&S: 0.0021 and for 2019-2020 was M&O: 0.3763 and I&S: 0.0177
The breakdown of the proposed tax for 2021-2022 is M&O: 0.3425 and I&S: 0.0183