Benton County Sets Budget, Property Taxes Likely to Rise
FOLEY -- Benton County residents can expect to pay more in property taxes next year.
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With estimated home valuations going up by an expected 17%, that will translate to homeowners paying more on the county portion of their taxes.
County commissioners approved a budget increase of more than $ 13 million in 2023 or an increase of 26.6%. Documents from the county indicate about 1/3 of that increase is due to a larger road construction program next year.
The levy increase is just under 5.5% or an increase of just over $1.1-million from 2022.
With the increased growth of nearly 20%, the county's tax rate will drop by 6.4%.
It means a home valued at $235,000 would see an increase of $70 per year on the county portion of their property taxes.
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