Wednesday, October 16, 2002
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Wednesday, October 16, 2002 |
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Tax cut for real? By JOHN THOMPSON
Fayette County tax bills may go down individually, but the county's coffers will see an increase in revenue over last year. Many of the county's property owners should see a slight decrease in their tax bills this fall after the Fayette County Commission decided to lower the millage rate last Thursday in an amount equal to the rise in taxable value caused by recent county-wide reassessments. Residents in incorporated areas, such as Fayetteville and Peachtree City will see the rate drop from 7.585 mills to 7.116 mills on their bills this year. In the unincorporated areas, the rate is dropping from 10.418 to 9.78 mills this year. Residents in the unincorporated areas pay a higher millage rate because the county provides them with fire service, explained the county's finance director Mark Pulliam. This year, the county is expected to collect $30.3 million in taxes, which is an increase of 11.2 percent over last year's $29.3 million. Pulliam explained the growth in tax collections is due to new businesses and homes in the county this year. "We rolled back all the growth from reassessments," he said. This is the third consecutive year the County Commission has lowered the millage rate. A mill is one-thousandth of a dollar. A homeowner's tax bill is figured on 40 percent of the assessed value of the home and land, after homestead exemption.
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