County holds proposed budget, tax hearings
Submitted by crecord2010 on Tue, 08/27/2013 - 1:02pm
After about two hours of reviewing the numbers that make the coming year’s budget and tax rate on two different days, DeWitt County Commissioners Court set Monday, Sept. 9, at 9 a.m. as the time to adopt the new document. That meeting will be at the courthouse.
The county is planning to keep the same tax rate is has now for the coming budget year which is 50.203¢ per $100 valuation. That rate has 44.919¢ for maintenance and operation of the county and 5.284¢ for retirement of bond debt.
With the exploration and production of the Eagle Ford Shale oil basin began here, the assessed valuation of the property in the county has more than tripled just in the last three years. The mineral values in this county almost hit $5 billion this year.
Those numbers now translate to mean almost 90¢ of every $1 the county receives in tax revenue is coming from oil related activities.
Read more in this week's editions of the Record and News-View.
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