Troup approves lower millage rate for second straight year
Published 9:18 am Wednesday, July 12, 2023
On Tuesday morning, the Troup County Board of Commissioners approved the 2023 millage rate at 9.923 mills after a final public hearing.
Chief Financial Officer Sonya Conroy recommended a Maintenance and Operations millage of 9.777 mills, slightly higher than 2022, which had a M&O Millage of 9.769.
The overall millage will be lower though, down from 10.560 mills. The majority of the drop comes from the elimination of the sanitation millage.
Although the millage rate will decrease for the second straight year, the county will collect more tax revenues due to increased assessments and growth throughout the county. The county projects to collect $32,256,976 for 2023, an increase of 16.68%.
Many county residents have seen increases in their property taxes due to increased assessments caused by inflation of property values. County Manager Eric Mosley said the commissioners reduced the millage rate last year to offset inflation, which will continue into this year.
“This is the second year in a row that the Board of Commissioners have lowered the millage rate,” Mosley said. “The Board of Commissioners has no responsibility in assessment values or assessments. We only control the millage.”
“Obviously, assessments are up,“ he said. “Home values are up, therefore they’re driving up the assessed value countywide.”
Commission Chairman Patrick Crews explained that growth also increases assessed taxes.
“Assessments have gone up, which is a huge problem everywhere. But it’s also the fact that when you’re a growing community, and you’ve got a new grocery store, a new service station, a new apartment complex, additions to current buildings where they add on and increase the values, all of those things create new taxes for the community, which I think everybody will say it’s a good thing,” Crews said.
Commissioner Lewis Davis noted that with inflation comes increased costs to the county as well.
“We’re also faced with inflation. Our cost of doing business is going up considerably,” Davis said.
The overall millage also includes a debt service millage of 0.146 mills.
Conroy said several items are contributing to the debt service millage including bonds for the industrial park, Caterpillar and the 911 equipment contract with Motorola that the county is sharing with the City of LaGrange.
Mosley said the debt service millage isn’t likely to go away because some of those agreements will be renewed or other ones will start.
“I think it’s also a really important point as well that your millage rate is not just your taxes. About 62% of the taxes that are paid by a citizen go to the school system,” Mosley said.