Montgomery County Levies Millage Rate
The Montgomery County Commission adopted the annual millage rate during a special called meeting on Monday, October 3.
The millage rate for the Montgomery County Board of Education is set at 15 mills, which will bring a 4.49% net tax increase to taxpayers. The school system has kept the millage rate at 15 mils since 2017, as the Board said that this is the rate required by the state to avoid losing equalization funds for the schools. Increases in taxes with this rate did not occur until 2019, when taxes increased by 2.345, totaling $57,174. The next year brought an even smaller increase, which totaled $11,039 or 0.44%; however, 2021 saw an 11.065 net tax increase, which brought in an additional $277,156.
This year’s millage rate is expected to bring in $2,909,210, an increase of $125,125 from last year. The proposed tax increase for a home with a fair market value of $100,000 is approximately $1.06, and the proposed tax increase for non-homestead property with a fair market value of $200,000 is $2.16.
This comes as a second tax increase to Montgomery County taxpayers, as the Montgomery County Board of Commissioners has approved a millage rate increase of 0.250 mills for the county, totaling 14.878 mills. The effect on a home with a fair market value of $100,000 will be $10, and the increase on a non-homestead property with a fair market value of $50,000 will be $5.
The County said this increase in taxes for the county portion of the millage rate will help to raise salaries for county employees in an attempt to avoid any further staffing issues next year. The total approved millage rate for Montgomery County taxpayers is 29.878 mils for the 2022 Tax Year.