Smith County Commissioners Court approves proposed budget, tax rate

SMITH COUNTY — On Tuesday, a meeting was held in the Smith County Commissioners Courtroom to vote on the proposed fiscal year 2024 budget and tax rate. According to our news partner KETK, the budget includes a tax rate of .347264 cents per $100 valuation. Due to the courthouse and parking garage bond that was approved by voters in November 2022, this will be an increase from the current tax rate of 33 cents. All items were approved and will go into effect on Oct. 1, the beginning of the county’s new fiscal year. The following items were voted on in regards to the fiscal year 2024 (FY24) budget and tax rates:

a. Vote to adopt the FY24 Budget; approved on 4 to 1 vote
b. Vote to adopt the FY24 M&O Tax Rate; approved on 4 to 1 vote
c. Vote to adopt the FY24 Debt Service Rate; approved on a unanimous vote
d. Vote to ratify the property tax increase from raising more revenue from property taxes
than in previous year; approved on 4 to 1 vote