FLORENCE, SC – The new judicial center in Florence may cause you to dig a little deeper in your pockets this year.
County Finance Director Kevin Yokim says taxes could go up again this year as the county council works to lower borrowing costs for the new center.
Originally, the plan was to increase taxes by 3 mills in 2018. This new plan would require a 1.1 mil increase from taxpayers this year. That’s a $4.40 increase for most people in the area.
Yokim says if that if this new plan were to happen, it would actually save taxpayers money in the long run.
“It will actually save money because the interest rate will be lower,” said Yokim.
This is all part of a plan by the Florence County Council to speed up the payback time of the bonds. The county plans to hold a meeting Thursday to further talk about ways pay back the $42 million in bonds.
