TUPELO – Tupelo and Lee County today will adopt their FY2010 budgets, both of which will reflect little change from last year.
County supervisors will approve their budget at 10 a.m. at the Lee County Justice Center, and the City Council will confirm its budget at 6 p.m. at City Hall.
Today is the state’s deadline for adopting budgets.
The county will operate with about $19.8 million in the general fund and the city with roughly $35.6 million in its general fund in the upcoming fiscal year, which begins Oct. 1.
Both budgets are flat compared to last year because of the lackluster economy, and neither Lee County nor Tupelo leaders raised taxes. Also operating with stagnant funds are the city and county school districts, which dropped their millage slightly compared to FY09.
With a few exceptions, Lee County residents will pay 38.66 mills for county services and 61.76 mills for county schools.
City residents will pay the county services tax, plus 32.47 mills for city services and 65.31 for city schools.
A mill is a tax rate that equals $1 of property taxes for every $1,000 of assessed valuation.
Generally, property owners pay their city taxes in December or January when they pay their county taxes.
While a majority of the county’s revenues come from property taxes, most of the city’s money comes from sales taxes – collected from restaurants and retail establishments, for example.
Money in the government coffers primarily is used to maintain roads, parks and infrastructure, provide fire, animal control and law-enforcement services, operate the courts, and support the library and local charities.
Emily Le Coz/NEMS Daily Journal