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County, BOE set '07 millage rates
The new millage rates were set based on the 2007 tax digest which underwent an increase of $198,464,316 - or 61.8 percent - as result of the mandatory property revaluation completed earlier this year by the Board of Tax Assessors. The gross digest grew from $321.6 million to over $520 million. In the unincorporated area the digest grew from almost $225.5 million to over $392 million, a 74 percent increase of $166,780,713. There was a 33 percent increase in the digest in the incorporated areas of $31,683,603 - from just over $96 million to nearly $128 million. In accordance with notices published in the Aug. 29 issue of the Early County News, the county set their millage at 9.050 mills - a decrease of 4.95 mills - in the unincorporated area of the county. The 9.050 mills will produce a projected $2,882,158 - an increase of $170,297 over last year. The millage rate in the unincorporated area reflects a rollback of .41 mills for insurance premiums collected. Of $266,951 in insurance premiums collected, $135,250 was used to provide fire protection to the unincorporated areas of the county and $131,701 was used to rollback the millage. In the incorporated areas the county levied 9.460 mills - a decrease of 5.23 mills - which will produce $1,098,898, a decrease of $136,026 from last year. Combined, the county will collect a total of $3,981,055 in ad valorem taxes - an increase of $34,271, or .87 percent, over last year - to help balance the $7.1 million county FY 2007- 08 budget. The school board also set the 2007 tax millage Sept. 18 at 13.5 mills, a reduction of four mills from last year. However, those 13.5 mills are projected to produce $5,837,300, an increase of $1,011,456 over the taxes generated by last year's 17.5 mills. The school board has adopted an $18.6 million FY 2007-08 budget. In addition to the whopping increase of the overall digest, the increase in exemptions should also be noted. Exemptions in the digest increased from just under $46 million to almost $88 million this year. Most of the additional exemptions came in the form of Preferential Farm Assessments and Conservation Use Assessments, both sparked primarily due to property revaluations. Additional exemptions include the Homestead Exemptions and Five-Year Industrial Exemptions. The tax bills are expected to be in the mail by the middle of October. Taxes are due by Dec. 20. | ||||||||||||||||||||||||||||||||||||||||
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