Former Cary Grade School Board President Scott Coffey offers this explanation:
Having watched this video I came away concluding that the people deciding how to spend over $200 million of taxpayer money have no idea how the property tax levy works.
The explanation on the impact of “new growth” on the tax bills of current property owners by Mr. Skala and Mr. Franks was flat out wrong.
If the County only captures the new growth, everything else being equal to last year, existing property owners tax bill for the County portion will remain flat.
Mr. Skala’s statement that “every single property tax PIN in the County will go up slightly by the $323,000 (New growth levy)” was incorrect.
As to the discussion regarding the deficit and fund balance levels, there was nothing in the presentation or any attached budget documents in the Agenda Packet that addressed Fund Balances.
How would the public or a board member know whether the County can sustain draws on current Fund Balance levels if the administration doesn’t present where those Fund Balances stand today?