2020 - 2021 FISCAL YEAR BUDGETS
Utility, Solid Waste, Harbor, and Hotel-Motel
The City of Seadrift held two workshops on July 21 and July 28 to discuss the proposed 2020-2021 FY Budgets and the proposed Preliminary Tax Rate.
A Public Hearing was also held on August 4, 2020. At the Regular Meeting on August 4, 2020, City Council voted to adopt the Proposed 2020-2021 Fiscal Year budgets for Utility, Solid Waste, Harbor, Hotel-Motel, and the FEMA CDL.
Tax Rate and General Fund Budget
The City of Seadrift held two workshops on July 21 and July 28 to discuss the proposed Preliminary Tax Rate. A Public Hearing was held on August 4, 2020. At the Regular Meeting on August 4, 2020, City Council voted to Preliminary set the proposed Tax Rate of $0.5600 per $100 valuation for the 2020-2021 Fiscal Year on which to base the preliminary 2020-2021 General Fund Budget.
A tax rate of $0.5600 per $100 valuation was proposed by the governing body of the City of Seadrift.
- PROPOSED TAX RATE FOR 2020-2021 FY: $0.5600 per $100
- PRECEDING YEAR’S TAX RATE (2019-2020 FY): $0.5600 per $100
- NO-NEW-REVENUE TAX RATE: $0.5136 per $100
- VOTER-APPROVAL TAX RATE: $0.5712 per $100
- The no-new-revenue tax rate is the tax rate for the 2020 tax year that will raise the same amount of property tax revenue for the CITY OF SEADRIFT from the same properties in both the 2019 tax year and the 2020 tax year.
- The voter-approval rate is the highest tax rate that the CITY OF SEADRIFT may adopt without holding an election to seek voter approval of the rate.
- The proposed tax rate is greater than the no-new-revenue tax rate. This means that the City of Seadrift is proposing to increase property taxes for the 2020 tax year. The proposed tax rate is not greater than the voter-approval tax rate. As a result, the City is not required to hold an election at which voters may accept or reject the proposed tax rate.
Seadrift City Council voted in a unanimous vote to adopt the proposed tax rate of $0.5600 per $100 valuation and the General Fund Budget for the 2020-2021 FY.
Of that $0.5600, 10.47¢ is dedicated as $0.0747 for Street/Drainage RM&O and $0.0300 for WWTP improvements. The remaining $0.4553 would be for General Fund O&M purposes.
For assistance with tax calculations, please contact the tax assessor for the Calhoun County Appraisal District Tax Assessor-Collector at (361) 552-8808 or click on the link below for more information.