County to lose 7 percent revenue

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By Lou Elliott Jones, Editor

Levy County’s assessed land value is expected to fall 7 percent in the coming year, meaning county government will take a $1.2 million hit in a budget that is already suffering from decreased revenues in the current year.

County Coordinator Fred Moody told the commissioners that County Property Appraiser Oz Barker had informed his office that land values will be down by about 7 percent in the coming year.

Barker said the figure is not firm as the tax rolls are not due until July 1 and he is waiting on the Legislature to provide its guidance on implementation of Amendments 4 and 6 which were approved by voters in November 2008. “But we don’t have a lot of that land in the county,” Barker said.

The two amendments provide for lower tax rates for property on working waterfronts and property placed in a state conservation program to preserve land from development.

Moody said the current year’s taxable assessed value of land is $2,237,233,869 The county’s millage rate of 7.3675 per $1,000 of value brings in $16,482,821 for the general revenue fund in the $56 million budget.

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