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County proposes property tax increase; school system tax projection down slightly

The Lamar County commission has announced its intention to increase the 2018 millage rate by 5.66% over the rollback millage rate. The state requires the county to come up with a rollback millage rate. It is computed by taking the new digest (total assessed property value) and determining the rate that would bring in the same income as last year’s rate applied to last year’s digest. The proposed new rate is 12.621 mills, an increase of .793 mills. In its announcement, the commission noted reviews by the tax assessors office indicating an upward trend in property values based on recent sales. Properties have been revalued with that trend factored in. The tentative county budget requires a millage rate higher than the rollback rate and the commission is embarking on the process to get that approved. State law requires three public hearings on the increases. Those hearings are set for August 14 at 9 a.m. and 6 p.m. and 6 p.m. on August 21 in the commission meeting room. Legal notice of the increase and the upcoming hearings is published in the 8.7.18 print edition of The Herald Gazette . According to the legal notice, the tax bill on a property valued at $100,000 would increase by $31.71 while that on a $300,000 parcel would go up $95.16 if the rate hike is implemented. The county’s total proposed tax levy for the coming year is $5,778,208, up from $5,468,732. The school system is also advertising its budget. Its projection is for a total tax levy of $7,601,576, down slightly for the total levy of $7,676,305 last year.

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