It appears Forsyth County’s millage rate will be a little
lower in 2019 than in previous years.
At a recent work session, Forsyth County Commissioners voted unanimously to move ahead with a reduced total county millage rate for the 2019 budget. The rate will be 7.936 mills for the county rate, down slightly from a rate of 8.036 mills approved for 2018.
“What that means for the total rate … is a 1.24 percent reduction overall for the total [paid in property tax,]” said Dave Gruen, the county’s chief financial officer.
The county’s millage rate is made up of the net maintenance and operations, fire district and general obligation bond rates.
The entire rate dropped due to the lowering of the general obligation bond rate from 1.419 mills to 1.319 mills.
The maintenance and operations – 4.462 mills – and fire district rates – 1.975 mills – remained the same from 2018 to 2019.
The county millage rate is combined with the total Forsyth County Schools rate and the state rate for the total millage rate paid by taxpayers.
The millage rate is the formula that calculates property taxes. One mill equals $1 for every $1,000 in assessed property value, which is 40 percent of the actual market value.
The 2019 budget is expected to have about $137.2 million in general fund revenues and $136.7 in general fund expenditures.
The budget will include 64 new positions in the county, new and expanded services and a 4 percent salary compensation adjustment for employees.
The next step in the budget process is a second presentation, if needed, of the budget at the commission’s June 26 work session and a first and second public hearing on the millage rate at the July 5 regular commission meeting. After other steps, the budget can be adopted on Nov. 16.