Tuesday, September 25, 2012
Holly Springs City Council approves 'revenue neutral' millage rate increase.
Holly Springs residents will see a millage rate hike, but that does not necessarily translate into a property tax increase. The city council on Monday unanimously approved setting the rate at 6.055 mills, up from 5.469 mills. Mayor Tim Downing was not present. The proposed rate is considered 'revenue neutral' as the city expects to collect the same amount of property taxes due to the decline in property values. Most residents won't see a property tax increase since most homes declined in value. City Manager Rob Logan said the rate will fill a shortfall of about $150,000 in the city's general fund budget. The rate is set ahead of the city’s 2013 budget, which runs on a calendar year. No one spoke during the public hearing the council …
Tuesday, July 10, 2012
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 …
Monday, August 15, 2011
A decline of more than $18 million in property values could lead to the third consecutive tax increase.
Holly Springs faces a $100,000 decline in revenue in the next budget unless it raises the millage rate, Finance Director Rob Logan told the City Council during a work session Monday night. The value of taxable property in the city has declined by more than $18 million, Logan said, and the city needs to set the tax rate at 5.469 mills to bring in the same revenue next year as this year. That’s an increase of 0.321 mills from the current rate of 5.148 mills. That would add about $25 to the tax bill for a house with a fair-market value of $200,000—if that home's value didn't change from year to year. The city also raised the rate the past two years to offset falling property values. It previously cut the rate twice in three years to get from …
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City of Holly Springs
3237 Holly Springs Pkwy, Canton, GA
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Terry Tucker
10:52 am on Wednesday, July 11, 2012
Dr. P and the BOE did it too. It is a tax increase no matter how they spin it. more ›