CPI and Annual Growth for 2014 budget presented - KOTA Territory News

CPI and Annual Growth for 2014 budget presented

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The Pennington County Commissioners were delivered their Annual Consumer Price Index (CPI) and Growth allotment today.

The CPI measures prices for consumers in urban areas, to adjust the income cutoffs for different tax brackets.

County Auditor Julie Pearson says the 2013 CPI will be 2.1% for an increase of $709,833 in tax revenue for the 2014 budget.

Commissioners also have Growth, which was more than $149 million dollars. Pearson says all together, Commissioners have about a 7.5% increase to the taxes which means $2,501,316 more available. She says tax payers shouldn't be worried though.

"I know this board, I've known boards in the past. They will not use this full amount, even with the possibility of lost revenues through the federal budget reductions. Tax payers can definitely not expect that kind of raise in taxes," says Pearson.

Pearson says she will recommend they use the Growth dollars first, so they can increase the amount they levee. Also CPI can be saved for future use, Growth dollars cannot.

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