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Tax rates hold steady

No increase for schools, county

POSTED: July 20, 2013 12:15 a.m.
 

Forsyth County property tax rates for 2013 will stay the same as in 2012, as the commission and school board each voted for no change in millage during separate meetings Thursday night.

Commissioners approved a total county rate of 7.656 mills for the fourth consecutive year, and the board of education approved 18.718 mills for the second year in a row.

Both boards voted 5-0 to hold the county property tax rates steady.

The millage rate is part of a formula used to calculate property taxes, where one mill equals $1 for every $1,000 in assessed property value.

The overall property tax rate has decreased by .05 mills, as the state continues to phase out its portion of the taxes, said David Gruen, Forsyth County’s finance director.

For a home valued at $250,000 in both 2012 and 2013, Gruen said the tax bill will drop by $5 due to the state’s reduction.

The total taxes on a $250,000 home for 2013 are $2,652.40, according to the finance department.

Though the rate will remain the same, Forsyth County will actually receive more in tax revenue due to an increase in the digest.

The tax digest for operations increased about 3.08 percent from 2012, mostly due to new development in Forsyth. That equates to about $1.15 million more for the county’s general fund.

The preliminary general fund budget for the county has been balanced at about $95 million.

The county will continue preparing its 2014 budget, which is expected to be adopted in October.

 

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