BOC tax rate proposed to climb 24%

A Barrow County government committee is poised to recommend a 2.5 mill tax hike this fall, a 24 percent increase over the current rate. The amount is about half of earlier projections which called for a 5-mill hike.

A county budget committee Tuesday morning reached a preliminary consensus to recommend the increase to the current rate of 10.338 mills. Officials believe 2.5 mills would be enough to bridge a $3.6 million gap between projected spending of $32.3 million and projected revenues of $28.6 million.

If the BOC approves a 2.5-mill rate increase, property owners could pay up to $100 more in taxes for each $100,000 in a property’s gross value. However, the drop in assessed property values this year should lessen the impact of the rate increase on some tax bills.

The BOC’s rate hike will not affect school taxes, which typically account for two-thirds of a property tax bill.

The budget committee is expected to finalize its recommendations at 9:30 a.m. Tuesday, Aug. 2. If the BOC decides to follow the recommendation, it will have three public hearings to receive input from citizens.

For the full story, see the July 27 issue of the Barrow Journal online or in print.

Comments

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#1 WRONG - a 2.5 increase would increase on 07/28/11 at 07:15 AM [Reply]

your tax on a $100,000 by 250. A mil is .001 1/1000 of a penny. To calculate what a 2.5 mil increase would be on a $100,000 home you would:

2.5 (increase) x .001 (mil) = .0025 x $100,000 (house value) = $250

Got to love reporters who can't do simple math!

#1.1 Mike Buffington, Publisher on 07/28/11 at 08:07 AM [Reply]

It may not be clear here, but the $100,000 in the example is the gross value, not the net. The net value is 40%, which means the 2.5 mill increase is levied against $40,000, which would be $100 in additional taxes. We use gross value in the example because people think of their house values in those terms, not in terms of net.

#1.1.1 Anonymous on 07/28/11 at 08:21 AM [Reply]

Looks like the article would have profited from showing an example for those needing a clearer picture. Perhaps a future article could include an illustrated example?

#1.1.2 Anonymous on 07/28/11 at 09:37 AM [Reply]

When it comes to home value and taxes, I think assessment statement I receive from the tax assessors office and calculate it off that. My home assessed (taxable) value would be roughly 130,000.

If you are going to toss numbers out there -- give an example of how you arrive at the figure.

#1.1.2.1 Tossing for you! on 07/28/11 at 03:19 PM [Reply]

Here you go! Your home assessed at $130,000 is only taxed at 40%. So that is $52,000. Then you multiply that by the millage increase (.0025) and that comes to an additional $130.00 for your home. Now you have a number that is specific to you!

#1.1.2.1.1 Anonymous on 07/28/11 at 06:23 PM [Reply]

No my house is VALUED at a little over 300,000 - the 130,000 IS the TAXABLE assessed value of the home. Look at your Annual Notice of Assessment -- it gives you the taxable (or net) value of your home. That's what I use when I'm estimating taxes.

#1.1.2.1.1.1 Tossing for you! on 07/29/11 at 06:47 AM [Reply]

Then using the exact same math I did for you above the answer is $300,000 taxed at 40%: $120,000 Multiply that by the 2.5 millage increase and you get a $300.00 increase for next year.

#2 Jacquelin Twiss on 07/28/11 at 09:24 AM [Reply]

Had they NOT held the SPLOST vote EARLY, then there would be no need for a property tax increase.

The county has a huge debt coming due next year. We could have used the SPLOST fund to cover that debt.

The problem, the SPLOST fund renewal AND the referendum to transfer SPLOST funds to existing debt MUST BE VOTED ON AT THE SAME TIME.

Our wonderful BOC didn't bother to fully understand HB240, so the citizens of Barrow now must pay more property taxes.

#3 r on 07/28/11 at 12:56 PM [Reply]

Anonymous dolt, I learned that had the SPLOST tax not passed, you would have gotten an even bigger tax increase, due to the capital projects that would have been burdened down on property owners, rather than on everyone from Northeast Georgia who buys something in Barrow County.

#3.1 Jacquelin Twiss on 07/28/11 at 06:57 PM [Reply]

Not passing SPLOST won't have made a difference on how much of a property tax increase is needed.

If however, the BOC had waited until after HB240 passed and held the SPLOST vote in conjunction with a referendum to transfer the SPLOST funds to existing debt, there would have been no need for a tax increase.

Mr. Worley did what needed to be done at this stage of the game. Just be glad it wasn't a 5 mil increase!

#4 Phil on 07/28/11 at 04:50 PM [Reply]

Ok Mr Steve and Mr Danny. You have now made your decision. You soon will get to make the finaly decision. We will get to make our decision in a few more months. Enjoy while you can.

#5 J.B. Moore on 07/28/11 at 09:47 PM [Reply]

Who else is burdened with splost. If you choose to buy that line then fine. Look around, what do I have in Barrow County that I cannot get elsewhere? Are you trying to say that people come to Barrow to shop? For what? It is all a tax on us. The day after splost passed Wilburn was in the paper wanting to start spending money. The issue is the commissioners have still not tightened up their belts. I bet we will have a massive influx of new residents now that the taxes are even more outrageous compared to the services we receive. Actually, by the time they shrink down the minimum home size, the annual taxes will cost more than the home.

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BOC tax rate proposed to climb 24%

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BOC tax rate proposed to climb 24%

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