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Out of 33 counties - San Juan County continues to have the second lowest mil
rate in the state at 8.5 mils. |
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Counties are required to maintain a cash balance reserve of 3/12th (25%) of budgeted
expenditures in the General Fund. A 1/12th reserve is required for the Road Fund. |
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2005 Assessed Valuation: $3,653,126,771
General Obligation (G.O.) bonding capacity:
(4% of assessed value): $146,125,071 |
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NO G.O. bond debt outstanding. The last G.O. Bond issued was in 1980 for $4 million
to construct the County Dentention Center. |
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Outstanding Debt: $80,180,000 as of 9-30-05. |
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Property Taxes |
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Operational Mil Levy (property Taxes): |
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Residential: |
6.627 mils out of an allowable 11.85 |
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Non-Residential: |
8.5 mils |
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Payment In Lieu of Taxes (PILT) Funding: |
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Generates $1,222,891 |
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Gross Receipts Tax |
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Gross Receipt Tax Rate as of 7-01-05 6.1875%. |
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GRT Taxes imposed within the unicorporated areas by County as of 7-01-05 = .375% |
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GRT Taxes imposed within the municipalities and unincorporated areas by the County
as of 7-01-05=.8125%. |
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1/8th(.1250) General Operations (county-wide) |
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1/8th(.1250) Indigent Fund (county-wide) |
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1/4% (.2500) Fire Protection (unincorporated area of the county) |
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1/8th(.1250) Environment (unincorporated area of the county) |
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1/8th(.1250) General Operations dedicated to Juvenile & Adult Dentention Centers
(county-wide) |
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1/8th(.1250) Correctional (county-wide) |
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3/16%(.1875) EMS (county-wide) |
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1/8th(.1250) Local Hospital (county-wide) |
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San Juan County historically received the majority of its revenues from property
taxes assessed only on property owners within San Juan County. In response to County's
legislative requests to the State to fund "unfunded" mandates, the State gave counties
a mechanism to raise revenues to meet those needs - gross receipts taxing authority. |
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San Juan County chose to implement gross receipts taxes to relieve the burden on
the property owner and spread the taxes equitably among all citizens and visitors
to San Juan County. |