East Texas

By COSHANDRA DILLARD
Staff Writer

Wood County Commissioners will hold the first of two public hearings on the proposed tax rate and budget at 10 a.m. today in the Wood County Courthouse. The proposed rate is 45 cents per $100 property valuation, two cents lower than last year's rate.

With the drop in the tax rate, it would only amount to a slight cut in taxpayers' bills due to an increase in property values. On an average home, the bill would be $332.72, down 44 cents from $333.16.

The average home value in Wood County has increased by about 4 percent, reaching 73,937, compared to $70,886 last year.

The total taxable values for Wood County have gone from $2.1 billion last year to $2.3 billion today. According to county tax documents, those values have steadily increased by approximately 55 percent since 2004.

County Judge Bryan Jeanes said the proposed budget is comparable to last year's budget with a slight increase to accommodate rising fuel costs.

Commissioners are proposing a budget of $16.9 million, up from $16.5 million last year.

This includes an additional $111,800 for fuel costs, a 29 percent increase, and an additional $155,000 for road oil, up 18 percent.

The total road and bridge section of the budget went from $3.9 million last year to $4.2 in this year's proposed budget.

Jeanes said total expenditures are estimated at $16.9 million. The second hearing will be held at 10 a.m. on Sept. 3 and commissioners are expected to officially adopt the proposed tax rate and budget no later than Sept. 15.