The city of Ferguson has fixed an ad valorem tax levy on real estate and personal property for the current fiscal year at 15.8 cents on each $100 of assessed value. The tax rate is the same as last fiscal year and is expected to generate $40,000 for the city’s general fund budget.
“We haven’t changed that tax rate since it was set … maybe 40 year ago,” laughed Ferguson Mayor Allen Dobbs.
Ordinance 2017-7, adopted by Ferguson City Council, provides Ferguson will use property assessments provided by Pulaski County Property Valuation Administrator’s Office and taxes will be collected by the Pulaski County Sheriff’s Department.
Ferguson’s budget for fiscal year 2017-18 is $386,130. In addition to $40,000 in real estate and personal property taxes, estimated city revenue is $102,500 as Ferguson’s share of Pulaski County occupational tax; motor vehicle tax, $6,000; franchise fees, licenses/permits, $41,000; other income, $71,300; intergovernmental revenue, $6,000; and Parks Department, $5,300.
Estimated revenues are $272,100.
Other funds include: Municipal Aid Road Fund, $83,030 including $65,322 balance forward; and severance tax, $31,500 including $28,500 balance forward.
Projected appropriations include: Police Department expenses –– salaries, $64,000, and other, $98,079.96.
Administrative expenses –– salaries, $12,000, and other, $34,899.97.
Contingency Fund –– $52,720.07.
Total appropriations –– $272,100.
Ferguson operates on a fiscal year beginning July 1, 2017 and ending June 30, 2018