Bosque County is unsure of the future budgetary needs due to the coronavirus’ effects on the economy.
In case more county funds are needed, it was approved for the creation of a Special Taxing Unit that would allow the county to raise tax rates by eight percent.
“We’re hoping not to raise the tax rate. We’re doing everything we can not to have an increase,” Bosque County Judge Don Pool said Monday.
Under Senate Bill 2, counties are limited to increase tax rate more than three percent in a single year. A relatively new bill that was enacted the last year statewide.
“However, in light of Covid business and we can’t get a handle on some of the cost this virus is going to impose on us, nor can a lot of other counties,” Pool said.
“We’ve been advised that if we elect to be a special taxing unit, we are allowed to have an eight percent increase.”
Pool said he doesn’t know if the county will need the special taxing unit designation, but the commissioner have to enact the order before the first of August just in case.
“We’re working our way through the budget this year; The revenues, our expected expenses, trying to calculate the reduction in sales tax and so many other costs in revenues,” Pool said.
It comes at the same time the governor’s office announce a possible five percent decrease in funds across the board from grants the county receives.