Friday, December 7, 2001
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Friday, December 7, 2001 |
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County rolls back property tax rates By JOHN
THOMPSON
The Coweta County Commission kept an earlier promise and approved lower 2001 property tax rates Wednesday. The county millage rates approved were "rolled back" to reflect the percentage increase resulting from a state mandated reappraisal of all properties in the county. The result makes the reappraisal revenue neutral for the county's portion of the 2001 tax bill. Residents who live in the incorporated county saw their rate drop from 6.2 millsto 5.02. Residents in the unincorporated county saw the rate plummet to 4.26 from 5.21. The difference in county millage rates for incorporated and unincorporated areas results from a state requirement that the millage rate in the unincorporated areas of the county be decreased to match an insurance premium tax received by the county. Those living in incorporated areas of the county receive that decrease in their city tax rates. In presenting the 2001 millage rates, Finance Director Rick Smoot noted that the roll back in the county's millage rates exceeded those required by state law in order to ensure that the reappraisal process was indeed revenue neutral for the county.
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