Covington supervisors approve fiscal 2023-24 budget
PINE BELT, Miss. (WDAM) -There’s some good news for most Covington County residents, who will not see a tax increase on their home, automobile or utilities over the next year.
Wednesday, Covington County supervisors adopted the county’s budget for fiscal year 2023-2024.
It has a projected revenue of $20,195, 211, and includes a cut in the ad valorem tax millage rate by 1.50 mills from 90.74 mills to 89.24 mills.
The decrease is a result of increased assessed valuation in the county.
Taxes for residents won’t go up, unless the assessed value of their property has increased for the new fiscal year.
“We had a little increase in the assessed value, but we were able to overall lower the budget a little bit,” said Sterling Craft, Covington County Board of Supervisors president. “We had to do a little reallocation to cover some inflationary costs and rise, but we were pleased to say that we dropped the millage and it all worked out pretty good.”
The new fiscal year begins Oct. 1.
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