NOTICE OF BUDGET HEARING AND TAX LEVY HEARING

 

The Madison County Board of Supervisors will hold public hearings on a proposed budget and tax levy for fiscal year 2012 on Monday, September 12, 2011. The Board of Supervisors anticipates no increase in ad valorem taxes for the fiscal year 2011-12.

 

The Madison County Board of Supervisors is now operating with projected total budget revenue of $178,992,754. Forty-nine percent or $87,958,224 of such revenue is obtained through ad valorem taxes. For next fiscal year, the proposed budget has total projected revenue of $174,029,652. Of that amount, 51% or $88,142,961 is proposed to be financed through a total ad valorem tax levy.

 

Madison County, exclusive of the Madison County School District, is now operating with a projected budget of $74,642,954. Forty-six percent or $34,075,151 of such revenue is obtained through ad valorem taxes. For next fiscal year, the proposed budget has projected revenue of $61,353,264. Of that amount, 56% or $34,424,262 is proposed to be financed through a total ad valorem tax levy.

 

A millage rate of 52.70 will produce the same amount of revenue from ad valorem taxes for Madison County as was collected the prior year. The County's millage rate for the previous year was 53.24.

 

A millage rate of 54.34 will produce the same amount of revenue from ad valorem taxes for the Madison County School District as was collected the prior year. The District's millage rate for the previous year was 54.55.

 

All concerned citizens are invited to attend public hearings on the Madison County proposed budget and tax levy to be held on Monday, September 12, 2011 at 9:00 a.m. in the Board of Supervisors Board Room in the Madison County Office Complex Building, 125 West North Street, Canton, Madison County, Mississippi. Any citizen will be allowed to speak for a reasonable amount of time and offer tangible evidence before any vote is taken.