City of Jackson Has Begun Advertising Proposed Millage Increase
The City of Jackson has begun advertising the proposed ad valorem tax revenue increase for Fiscal Year 2017. A public hearing on the City’s proposed budget and proposed tax levies will be held Sept. 2 at 6 p.m. in Council Chambers, located in City Hall, 219 S. President St.
The City of Jackson is now operating with projected total budget revenue of $487,204,201, of such revenue is obtained through ad valorem taxes. For next fiscal year, the proposed budget has total projected revenue of $466,688,237. Of that amount, $69,641,984 is proposed to be financed through a total ad valorem tax levy.
For next fiscal year, the City Council has proposed to increase ad valorem tax millage rate by 4.00 mills. Mayor Tony T. Yarber proposed a 3.00 mill increase. A 3.00 mill increase on a $100,000 home is $300 a year. The millage increase, spending reductions and departmental restructuring and reorganization have all been proposed by the Administration to help balance the budget for the fiscal year that begins Oct. 1.
During a presentation on Monday, Aug. 15, Systems Consultants Associates, a firm hired by the City of Jackson, explained how the City of Jackson arrived at its present financial condition, and recent operating millage changes were among contributing factors. In 2014, the City’s operating millage was 56.77. It was lowered to 48.90 in 2015 and was at 46.93 in 2016. The lowered millage has had an adverse effect on revenue for the City, according to the consultant’s report. Even with a 4.00 mill increase, the millage will still be lower than it was in 2014.