The City of Sparta plans to decrease property taxes in the upcoming fiscal year.
Sparta Aldermen passed a general fund ordinance to cut property tax rates to 59 cents per $100 of assessed value on Thursday. Mayor Jerry Lowery said this is a reappraisal year, and the state recommended a lower rate based on the city’s updated property values. Lowery said Sparta will adopt the state-certified rate, although it is not mandated they do.
“We felt like it’s good for our citizens to drop it, so we’re dropping ours, what the state said to drop it to,” Lowery said. “That’s the decrease, so right at 30, I think 36%, right, is what ours is going to be like. Final numbers haven’t come in yet, but that’s going to be real close.”
Forecast expenditures for the City of Sparta are some $10.5 million, and forecast revenue is some $10.6 million. Lowery said Sparta has a balanced budget heading into the next fiscal year.
“You got to make sure what you’re bringing in is going to cover what you’ve got,” Lowery said. “So that’s what we do. We went by line item, everything, and we’ve got a good clean budget without any tax increases, and we’re happy about that.”
Lowery said Sparta takes a conservative approach to the budget by setting aside $100,000 annually for a fire truck and garbage trucks.
“Of course, if the police needed something, we could dip into that,” Lowery said. “But we’re setting that out every year to make sure we can fund a fire truck when it’s needed. These things are three or $400,000, $500,000. It’s crazy, and the timeline to get them is absolutely crazy.
The second reading of Sparta’s budget for the upcoming fiscal year will be at the next aldermen meeting on June 5.
