Two of Madison County's special purpose government entities have set their yearly tax rate.

The Madison County Extension District Board voted to accept the compensating rate, adjusting the rates for real property to 1.772 cents per $100 and personal property to 2.983 cents per $100 while motor vehicle taxes remain the same at 1.3 cents.

According to the state, the compensating tax rate is the rate that when applied to the current year’s property assessment, excluding new property, produces an amount of revenue equal to that produced in the preceding year.

Madison County Extension Office Manager Lisa Adams said that this year’s rates would produce less revenue than if the board kept the same rates as the previous year. She said that the projected revenue for the rates that were accepted this year were $1,025,220.42.

For the extension office, last year’s rates were set at 1.729 cents per $100 for real property, 3.4076 cents per $100 for personal property and 1.3 cents for motor vehicles.

“We have a very fiscally responsible board and they opted to go for the rate that generated the lower income since we are able to fund our needs,” Adams said.

In an interview with The Register, Adams said that the revenue generated funds salaries, programs, facilities and operations.

Special purpose government entities are units of local government that operate outside of the county government or other municipality. They have separate governing bodies, and generally have the power to provide some governmental or quasi-governmental services and to raise revenue by taxation.

In addition to the extension office, Madison County's special government entities include the Madison County Health Department, Madison County Library, Madison County EMS and the Red Lick Water Conservation district.

For the library, their district board opted to accept a real property rate of 0.58 cents per $100, personal property at 0.756 cents per $100 and motor vehicles at 0.35 cents.

According to Ruthie Maslin, the library director, both the real and property tax rates decreased from the previous year with rates that were set at 0.59 cents for real property and 0.9 cents for personal.

Motor vehicle tax rates remained the same at 0.35 cents per $100.

The Madison County EMS Board voted to accept the compensating rate for this year, adjusting its tax rate from 5 cents per $100 to 4.9 cents per $100, according to Carlos Coyle, EMS director for Madison County.

"I am proud of this taxing district because (the EMS board) spent (taxpayer dollars) wisely and invested it in something that makes a difference, like better patient care," Coyle said.

According to Red Lick Water Conservation District Director, Lisa Smith, the district's board has opted to keep the past year's rate of .05 cents per $100 dollars of value on real property.

Taxing districts are allowed by law to raise their tax rates to the compensating rate without holding a public hearing.

Reach Taylor Six at 624-6623 or follow her on Twitter @TaylorSixRR.

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