WIUM Local
4:26 pm
Tue August 23, 2005

Lee County Could Face Major Shortfall

Keokuk, IA – The state may require Lee County to reduce one of its property tax levies when it crafts its budget for next year. That could lead to another significant deficit in the county's general fund. Lee County's general basic fund is used to pay for salaries and day to day operations of several county departments. In the current budget, the general basic tax rate is more than one dollar over the maximum allowed by the state. Supervisor Larry Kruse says that was allowed because Lee County's assessed valuation fell for several years in a row. He says the county may have to cut the tax rate in next year's budget, which could result in a $750,000 shortfall. The board may have to consider job cuts to try to reduce that deficit.
You can hear Jason Parrott's full report by clicking on the audio link