Cairo to hold tax rate level, Whigham rate drops slightly
The city of Cairo’s net tax digest jumped up $5,907,055 over 2014, with the bulk of the growth coming from the reassessment of real property by the Grady County Tax Assessors
The net digest grew from $170,521,183 to $176,428,238. While significant increases in value of commercial and residential property was realized, the value of motor vehicles and mobile homes dropped by about $1.2 million.
In order to maintain the current tax rate of 8.28 mills, the city will technically be imposing a tax increase of 3.57 percent when the existing tax rate is applied to the new digest.
For a home with a fair market value of $100,000, the increase in taxes will be $11.40.
Based on budget projections, the city will collect $1,460,649 in ad valorem taxes, which will be $48,905 more than in 2013.
The city council voted unanimously Monday to tentatively adopt a millage rate of 8.28 mills.
In accordance with state law, the council will hold three public hearings on the proposed tax increase. The first hearing is set for Aug. 11, 2014, beginning at 6 p.m. The second hearing will be held on Aug. 25, at 6 p.m. and the third and final hearing will be held on Sept. 8, at 6 p.m.
All three hearings are being held in conjunction with regularly scheduled city council meetings and all three will be held in the council chamber located inside the Roddenbery Building at 101-B North Broad Street.
In order to avoid a tax increase and holding public hearings, the Whigham City Council recently adopted a tentative tax rate of 6.210 mills, down from 6.414 mills in 2013.
The city of Whigham’s net digest plunged to $7,480,370 from $7,751,498, making the value of one mill of tax drop. According to city officials, if the Whigham council had maintained the current tax rate it would have been forced to hold three public hearings on the tax increase.
Based on the city of Whigham’s calculations, the city’s tax collections will drop by $3,265.01, bringing the total collections to the lowest level in the last six years.
The Whigham council is expected to set a final millage rate on Aug. 12 at 7 p.m.