lower millage rate approved

Discussion in 'Real Estate' started by SoWalSally, Oct 2, 2005.

  1. SoWalSally

    SoWalSally Beach Fanatic

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    From Walton Sun

    The Walton County Board of County Commissioners voted on Sept. 26 to lower the millage rate to 4.3099, which was rolled back from a provisional rate of 4.568 adopted on Sept. 6.
    The new millage is nearly three-quarters lower then last year?s 5.065 rate.
    One mill equals $1 for every $1,000 of taxable property value. That means if someone?s home was assessed at $249,844 last year he would have paid $2,691 in taxes. This year their property value increases the maximum three percent allowed on homestead exempted houses. Their home is now valued at $257,339. Their taxes for this year will be $2,445, according to Pilcher.
    Walton County took in $40 million last year in taxes and its revenue will increase to $52 million, according to Bill Imfeld, Walton County finance director, said.
    The increase in taxes even though the millage rate was lowered is due to the continued rise in property values, County Appraiser Patrick Pilcher said.
    He added that those with the homestead exemption will likely see a decrease in the amount of taxes they will pay.
    ?The higher the value (of the property) the more difference you?ll see in the actual amount this year verses last year,? Pilcher said.
    Those property owners without homestead exemption will most likely be writing out checks for more in taxes, Pilcher said.
     
  2. Smiling JOe

    Smiling JOe SoWal Expert

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    So, by the numbers in this article, the new total millage rate for property in SoWal will be 9.501 mills. I think the article should include this info, because to only say that the County's millage rate is 4.3099 is misleading.
     
  3. Dabell

    Dabell Beach Fanatic

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    Joe, my taxes already went up. Does this mean they are going up again?
     
  4. Smiling JOe

    Smiling JOe SoWal Expert

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    I guess that depends on what you mean by "taxes." The tax rate appears to be decreasing, but your taxes also depend upon your assessed value of the property. Without knowledge of your assessed value, and no definitive word on the new millage rate, and no knowledge of your last years taxes, I would never be able to answer such a question. The easiest thing to do is call the Tax Collector's office.
     

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