Lowndes County - Property taxes are likely going up in Lowndes County. The County Commission is expected to increase the millage rate by one mil.
That will generate an extra $2.3 million which will be given to the Industrial Development Authority.
Commissioners say it's an investment in the area's economic future. "We are trying to be very frugal in the assessment of our expenditures and trying to be cost affective, yet at the same time we recognize the need for growth and development," says County Manager Joe Pritchard.
To offset a property tax increase, the county will roll back their portion of the millage rate by .105 mills. But one mill will be added to generate money for the industrial authority to develop and recruit new business in the county. "It will be separate on the tax bill. You'll see one mil for the industrial authority and the 8.75 as the county," Pritchard says.
So what does this mean for the taxpayers?
If you own a home with an estimated value of 125 thousand dollars, you'll see an increase of about $39.00 a year. Own a home worth 250 thousand dollars? About $84.00 a year more. "If you look at that at a monthly basis, its about $7.00 dollars a month we are asking citizen to contribute towards the development and support of the Industrial Authority."
And even with this tax hike, Lowndes County is in the bottom 50 tax rates in Georgia's 159 counties.
To find out more on your tax bill and where your money is going, click here.