County proposes increased ad valorem taxes in ’13 budget
The Copiah County Board of Supervisors today proposed to raise millage in Copiah County to 106.53 mills for fiscal year 2013, which will begin at midnight on October 1, 2012. The new rate is 3.09 mills over current millage, which is 103.44.
According to Michigan Property Consultants, LLC:
“One mill is equal to one tenth of one penny or one 1/1000 of a dollar. Mills are used to calculate property taxes. When a ‘millage rate’ is used to calculate a property tax the formula is always: The Millage Rate times ‘Taxable Value’ Equals the tax levy.”
An advertisement in this week’s paper explains it all. “This increase in ad valorem tax revenue means that you will pay more in ad valorem taxes on your home, automobile tag, utilities, business fixtures and equipment and rental real property,” the required advertisement reads. According to County Administrator Ronnie Barlow, taxes on $100,000 worth of property will increase about $30 next year.
The ad announces a public hearing will be held on Friday, September 14 during which citizens of Copiah County are allowed to speak “for a reasonable amount of time and offer tangible evidence before any vote is taken.”
The total proposed budget for FY13 is $15,007,449.00, up from $14,244,972.00 in FY12.
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