Commissioner Bradshaw set to rollback millage rate

HIAWASSEE, Ga. – Towns County Sole Commissioner Cliff Bradshaw announced an upcoming special-called meeting, scheduled for Thursday, Aug. 23, at 5:30 pm, at the Towns County Courthouse, to set the annual millage rate.

The rate will rollback from 5.375 to 5.197 mills, amounting to $3,919,757 in county revenue.

“My goal is to keep property taxes as low as possible without jeopardizing the services that the county offers, especially public safety,” Bradshaw told FYN, “I feel at this time, with the improving economy and property values, we will be able to maintain the county services that we are accustom to.”

In local government terminology, a millage rate is synonymous with the property tax rate. The term “millage” is derived from a Latin word which means “thousandth.”

Therefore, 1 mill is equivalent to 1/1000th.

Applied to taxes, 1 mill is equivalent to $1.00 in taxes per $1,000 in property value. If property has a taxable value of $100,000, and assessed at a 1 mill tax rate, the property owner would be required to pay $100.00 in annual taxes.

The standard way to calculate the tax bill, based on the millage rate, is to take the set rate, multiply it by the taxable value of the property, dividing the result by 1,000.

An independent mill rate for Towns County Fire and Rescue, which has been set at 0.500 mill in past years, is expected to decrease to 0.483, resulting in a comparable amount of $364,295 collected during the previous year.

 

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