The is expected to approve the millage rate at the City Council meeting tonight and for the fifth year in a row, there is no tax rate increase planned. If fact, officials say many people are likely to see their out-of-pocket expenses on city taxes go down.
“We’re not going to change the millage at all,” City Manager Bill Jones said, adding that anyone who has property re-assessed at a lower rate will pay less in taxes. “We went ahead and prepared it and with the rollback, it rolls back to 10.27 mills.”
Jones said it is notable that the taxes levied in 2012 are within $50,000 of what they were in 2007. He said with homes losing about 43 percent of their value, it meant that the government was losing 43 percent of the revenue generated from those property values. What it means for the average homeowner though is that if they have lost value on their homes, they will at least see some benefit in their wallets after paying the current city taxes. The city, however, has to continue to provide the same services, just with less revenue.
Jones gave an example of taxes paid on a home that started off in 2006 with a value of $150,000 – peaked at $176,000 in 2008 and today is valued at just $111,000.
- 2006 - $635
- 2007 - $661
- 2008 - $754
- 2009 - $675
- 2010 - $601
- 2011 - $510
- 2012 - $427
The Loganville City Council will meet at 7:30 p.m. tonight at City Hall, Pecan Street. The meeting is open to the public.