All taxing authorities within Walton County have now conducted the first of two (2) required public hearing on their 2016 Budgets and Millage Rates.
At the Walton County BCC hearing held on Monday September 14th at 5:01 pm Commissioners voted to lower the proposed rate of 3.9746 to 3.6363 mills. Included in the 127 million dollar budget is 3 million dollars to be transferred to the new South Walton TIF (Tax increment financing) account for infrastructure improvements in South Walton exclusively.
The charts below compare the millage rate for this year and next year and the millage change.
These rates can be adjusted downward at the final budget hearing but they cannot be raised.
You can calculate your new tax bill by looking at your" trim notice" for the new taxable value and then determine the area where you property lies within Walton County to see the "total millage rate" to be applied to your "assessed value".
Multiply the assessed value times YOUR total millage rate from the second chart and then divide that number by 1000. This number will be your tax bill for 2016 unless their are further reductions at the Final budget hearing.
Example Calculation
Home in South Walton with a taxable value of $200,000.
$200,000 times 10.1648/divided by 1000 = $2032.96. The same home last year with the same taxable value would have received a tax bill of $2061.80.
This "owner" would pay $28.97 LESS in 2016
due to a lower overall millage rate
NOTE: Most property owners will have seen an increase in their taxable values as
the "market values" of property has increased.
The County is divided into several areas with different taxing authorities having taxing authority within their legislatively describe area. Below you will find the total proposed millage rate for each area.
