That’s not a lot of money when gas costs nearly $4 a gallon, food prices continue to rise, AEP wants to charge more for electricity and the “privilege” of owning a $100,00 home costs $500 a year in taxes while the “privilege” of owning a $20,000 car will cost another $590 a year in taxes plus fees for a county sticker that no longer exists.
The Census Bureau also says about 40 percent of Floyd County residents live on fixed incomes — mostly Social Security and maybe some other form of retirement benefit. Prices may go up but their benefits may not. Social Security recipients haven’t had a cost-of-living adjustment for two years.
The tax increases approved by the board of supervisors Wednesday night, while not as onerous as originally proposed, will still stretch some Floyd County budgets to the breaking point.
Tax delinquencies are already on the rise. So are sales of property sold by the county for overdue taxes.
And most feel it will get worse.