Sibley County’s adjusted net property tax levy will drop next year.
County Commissioners, Tuesday, set the preliminary adjusted net property tax levy at $10,825,411. This is a reduction of .54% or $58,707 from the adopted 2010 levy of $10,884,118.
Sibley County’s certified payable levy limit for 2011 is $8,492,095. However, Sibley County’s figures came in under the levy limit at $8,276,973. Special levies, which are allowed by the state to be above the levy limitation, are set at $2,548,438, which is a reduction from the 2010 levy.
Most of Sibley County’s savings is in debt service. In 2010, the County’s second general obligation bond for the law enforcement facility are paid off, saving $69,555 in 2011. The first general obligation law enforcement bonds were paid off in 2009, saving $172,145.
Sibley County is anticipating reduction in revenues. Non-tax revenues are estimated to be down by $3,041,170, primarily by the reduction of federal grants, local grants, and interest on investments.
It is proposed to use $843,379 of Sibley County’s fund balance, while in 2010, it was proposed to use $1,100,2000 from the fund balance.
Sibley County is anticipating $420,708 in County Program Aid, a reduction of $122,911 from the adopted 2010 County Program Aid of $543,619.
Because of state cuts, Sibley County chose to include $270,593 in the 2009 County Program Aid unallotment as a special levy.
County Commissioners have scheduled the Truth in Taxation hearing on Thursday, December 2 at 6 p.m. in the County Commissioner’s room.
Commissioners will adopt the final levy in December.