By Sarah Hale, SVI Media
The Lincoln County Commissioners approved an increase in the mill levy this month. The action took place by resolution during the July 16 meeting of the Lincoln County Commissioners.
A mill levy is a property tax that is based on the assessed value of a property. One mill is equal to $1 for every $1,000 of assessed value.
“We increased the mill levy from 11.8 to 12,” said Commissioner Robert King.
According to King, the Lincoln County Commissioners took the action “because of the decrease in income from the mine and the power plant as well as being told by the state that funding would fall under scrutiny because [the county was] not at 12 mills.”
According to the county’s appropriation resolution:
• 9.810 mills will be utilized in the county’s general fund in the 2019-2020 Fiscal Year (July 1, 2019 to June 30, 2020). The total general fund budget for the county is $18,828,521.
• .597 mills will be utilized in the Lincoln County Fair budget. The fair budget is $430,871.
• 1.623 mills will go to the county library budget. The library budget is $1,232,521.