Fiscal Court sets county tax rates

Published 12:24 pm Friday, September 23, 2022

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STANFORD – The Lincoln County Fiscal Court voted this month to approve a four-percent revenue increase for the 2022-23 property tax rates, which lowered the rate from the previous year.

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Judge-Executive Jim Adams said the vote was unanimous.

Magistrates voted to set the 2022-23 real and personal property tax rates at 9.80 (cents) per $100 of assessed property value.

The new rate, which includes a four-percent revenue increase, is expected to generate about $1,068,867.

The previous year’s rate was 10.1 cents per $100 of assessed value.

The tax rate for motor vehicles and watercraft was set at 13.40 cents per $100 of assessed property value. The motor vehicle rate is expected to generate $256,859 and the watercraft rate will bring in about $8,360.

Adams said the fiscal court held a public hearing on the rates, but no public comments were made.