GRAND ISLAND, Neb. -- Hall County residents will soon be seeing a property tax increase in order to pay for the courthouse project.
The increase translates to between $16.00 and $25.00 more per year in property tax for a home valued at $100,000.
It is a 1.6 cent/$100 value of the home to a 2.5 cent/$100 value of the home increase.
The Hall County Board of Supervisors was presented Tuesday with payment plans by their financing team that will raise the county levy tax to between 1.6 cents for a $10,000,000 bond to 2.5 cents for a $15,000,000 bond.
This rise would still keep Hall County under the state mandated maximum.
"Our tax levy right now, for all intensive purposes, is at 44 cents. We have to stay under 50 cents on that levy. So we've got about 6 cents that we could increase our levy and meet state requirements. Obviously we don't want to go to that because we'd have no room for emergencies," said Bob McFarland, the Chair of the Board of Supervisors.
The estimates also show the county would be able to afford any of the project estimates they have seen so far.
McFarland said, "Based on the cost estimates we've been given that it's affordable for us to go forward with this project. Of course our final costs haven't been determined yet, but given the estimates that we've been given, it's well within the 5.5 cents that we have left on our levy."
The board also voted to choose either projects B-1 or B-3.
The next step is the architects making requested changes and more in-depth plans, as well as more accurate cost estimates for those two projects.