CORINTH – Corinth residents for the third year will see no increase in ad valorem taxes in the fiscal year 2010 budget passed by the Board of Aldermen on Tuesday.
The tax rate for city residents remains at 95 miles, and ad valorem taxes for Corinth School District families who live outside the city limits holds steady at 59.2 mills.
The budget to operate the city for the coming fiscal year is projected to be about $13.8 million, compared with almost $13.5 million for the fiscal year that ends Sept. 30.
The largest increase in city costs is in the category of employee health insurance, at about $170,000 over last year.
The board voted to switch health insurance carriers from Humana health care to a partially self-funded plan to be administered by Acclaim Inc. of Tupelo.
The cost for renewing with Humana would have increased by more than $340,000. With the change in carriers the city will be able to continue paying the full cost of employee coverage, and the benefits and deductible will remain the same.
With the new plan, care will be provided by HealthLink physicians for employees in Mississippi and by the Methodist network for employees receiving care in Tennessee.
Lena Mitchell/NEMS Daily Journal