Montgomery County Lowers Millage Rate
Because of an increase in the net digest value on local property, the Montgomery County Commission voted on August 27 to lower the millage rate from 15.458 to 14.7. The tax rate is used to calculate individual property taxeseachyear.For the past five years, the net digest value in the county has had minimal change, averaging $180,000,000. However, the 2021 net digest has dramatically increased, rising to $198,854,677, because the countywide value of timber has nearly doubled from $3,757,310 last year to $6,028,189 this year.
Also, the real and personal estate values have risen from $201,008,707 last year to $217,897,379 this year, County Manager Brandon Braddy explained.
The Commission chose to lower the millage rate in the county, but even with the lowered millage, there will be a 4.78% net tax increase, totaling $133,243 more than last year. As always, 0.5 mills of this tax will go to the Montgomery County Development Authority for economic development.
County Commission Chairman Leland Adams commented on this change. “Property values did increase because of the Board of Tax Assessors’ recent reassessment. The Commissioners chose to lower the millage rate to lessen the tax burden created by the reassessment. However, the effect of the new millage rate will depend on each property owner’s respective property value.”