By Staff
Leada Gore, Hartselle Enquirer
A healthy housing market and a switch to yearly property tax evaluations are boosting the coffers for the city of Hartselle.
Though far from a windfall, the city is showing revenue increases in many categories. The city met or exceeded revenue projections in most areas last fiscal year, including property taxes.
The city predicted property taxes of some $405,000 last year. Instead, that amount was $416,063, due in part to a switch to yearly tax assessments. Similar increases were seen in auto license fees, up from a projected $110,000 to $113,496.
A large gain was also made in the amount of interest the city earned last year. The city projected it would receive some $50,000 in interest payments. Instead, it earned $132,215 and is projecting $125,000 in the coming year.
Revenue increases were also seen in franchise fees, privilege licenses, lodging tax and tobacco tax. Taxes on tobacco brought in some $165,390 for the city last year, up from $130,000 that had been projected. Tobacco taxes are expected to top $185,000 in the coming year.
The annual payment in lieu of taxes made by the Tennessee Valley Authority was up last year, too. TV paid the city $588,070 last year, an increase of some $43,000 from projections. TVA's payment is predicted to top $600,000 this year.
The city didn't meet projections for sales taxes, however. The city predicted sales tax revenues of $4.5 million but brought in some $4.3 million. Next year's projections, however, top $4.7 million.
City must pay at the pump, too
High gasoline prices are hitting the city of Hartselle, too.
In the past fiscal year, the city has had to move money to fund fuel line items in several departments. In its new budget, the city has allowed for more money for gasoline.
Administration's gasoline budget increased to $2,000 from the $1,493 it spent last year. Police and fire budgets were increased from $38,958 to $48,000 and $6,596 to $10,000, respectively. Public works was increased from $35,836 to $40,000.
The city also budgeted $15,000 for fuel costs linked to upgraded garbage pickup it will provide in February 2006.