Cherokee to Propose 'Revenue Neutral' Millage Rate
The first of two public meetings on the matter is at 6 p.m. tonight.
The Cherokee County Board of Commissioners will meet at 3 p.m. today for its work session and at 6 p.m. for its regular meeting. Commissioners will hold the first of two public hearings on the proposed 2012 millage rate during tonight's regular meeting.
Because property values decreased, Cherokee would collect $4.4 million less in 2012 using the same rates at 2011, according to a report from Janelle Funk, the county's chief financial officer.
In order to collect the same amount of property taxes in 2012, the county is proposing a revenue neutral millage rate.
In 2011, the millage rate was 5.365 for the general fund, 3.129 for the fire fund and 0.641 for the parks bond. This year, the county is proposing 5.822 for the general fund, 3.392 for the fire fund and 0.694 for the parks bond.
What does the proposed millage rate mean for homeowners?
"If a homeowner experienced the average 7.46 percent decline on their home value, they will not pay more in dollars, even though the proposed rate is an increase," Funk wrote in her report to the Board of Commissioners.
Open the attached PDFs for the work session and the regular meetng agendas. Click here to view the electronic versions of the agenda.
The next public hearing is scheduled for 6 p.m. July 24.