(KLZA)--Richardson County Commissioners reviewed information for the proposed Fiscal Year 2018-19 budget during their Tuesday meeting.

To keep the budget at the same levy as the current fiscal year, nearly three quarters of a million dollars will need to be cut from the proposed budget requests.

The valuation of Richardson County property is estimated to decrease by just over 3.6 percent to $1,425,671,008. That amounts to a decline of more than $53.7-million.

The submitted budget requests are more than $1.8-million higher than last years budget coming in at $15,038,852. That represents an increase in expenditures of 13.2 percent.

The tax requirement on that amount would be an additional 5.4 percent or an increase of more than $5.3-million. That would increase the levy by more than 3-cents per $100 of assessed valuation.

Commissioners will be reviewing the budget requests throughout the month of August.