Thursday, Jacobs laid out his Fiscal Year 2023 Proposed Budget, which included raises for county deputies and school employees, an increased engineering and public works budget, a multi-million-dollar general purpose school fund, as well as a five-year capital improvement plan.
Raises coming to deputies, school employees, and general county employees
Under Jacobs’ proposed budget, Knox County Sheriff’s Office (KCSO) Deputies would receive a 6% raise while General County employees would see a 4% raise. In addition, a 6% raise would go toward Sheriff’s Total Accumulation Retirement (STAR) Plan participants.
In addition to law enforcement and county employees raises, certified and classified school employees could expect a 4% raise.
5-year Capital Improvement Plan
Under Jacobs’ five-year plan, $299 million would be used for “much-needed capital projects and improvements.” Projects would include:
- A 32-classroom addition to Hardin Valley Academy ($11 million)
- $3 million to Farragut Elementary School
- $2 million for district wide-wide security upgrades
- $400,000 for park maintenance and renovations
- $5 million for continued work on Schaad Road
- $1.2 million for ADA compliance
According to Jacobs’ budget, the five-year plan would add “$65 million to our bonded indebtness, topping out at around $750 million. However, we can negate some of this with bond proceeds against the total.”
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According to Chief Financial Officer Chris Caldwell, no increased taxes are expected under the 2023 proposed budget. However, Jacobs’ budget does mention increases in the Local Option Sales Tax, Current Property Taxes, and the Gasoline Tax.
At this time, it is unclear whether money from last year will be used to cover those tax increases. You can view the proposed increases below:
- 14.6% increase in Local Option Sales Tax related to the General Fund (equivalent to $1.2 million)
- 2.5% increase in Current Property Taxes (equivalent to $3 million)
- 13.2% increase in Local Option Sales Tax related to Engineering and Public Works (equivalent to $1 million)
- 6.3% increase in Gasoline Tax (equivalent to $400,000)
- 24.7% increase in Local Option Sales Tax related to General Purpose School Fund (equivalent to $43.7 million)
- 2.5% increase in Current Property Taxes related to General Purpose School Fund (equivalent to $2.7 million)
This story will be updated as more information and clarification are available.