The Grundy County Commission will hold hearings regarding the preparation of a budget amendment involving CARES Act funding and proposed property tax rates on August 18th.
The hearing for preparation of a budget amendment will be at the courthouse in Trenton that morning at 8:30. The hearing is to include General Revenue and the Election Services Fund for the COVID-19 CARES Act funding grants.
The hearing regarding property tax rates proposed to be set by Grundy County will be at the courthouse on the morning of August 18th at 9 o’clock. The proposed tax rate for Grundy County for 2020 is 21.65 cents per $100 of assessed valuation. That is the maximum tax rate after sales tax rollback and an increase of one point five-six cents from 2019. The tax rate ceiling is 39.65 cents.
Grundy County’s assessed valuation for the current tax year totals $130,067,962, which is decrease of $2,531,840 from the previous year. The current tax year’s total assessed valuation includes $73,317,370 for real estate, $30,322,685 for personal property, and $26,417,907 for railroad and utility. Budgeted revenues for 2020 total $260,000.
Grundy County’s new construction for 2020 is listed at $380,306. Revenue derived directly from new construction at the proposed tax rate is estimated at $824.
