Tax hike hearings
County commissioners to hold public hearings on proposed property tax rate increase
Catoosa County commissioners will hold three public hearings on a proposed property tax (millage) rate increase.
The increase, from 10.768 mills to 11.877 mills (1.109 mills more or 10.3 percent increase) is needed to fund — and balance — the county’s proposed new budget, which begins Oct. 1.
The proposed budget is available for public inspection at the Board of Commissioners’ office.
The hearings give the public a chance to comment on the proposed property tax rate hike and budget before they are adopted.
The hearings will be held at the Catoosa County administrative building, 800 LaFayette St. in downtown Ringgold, at 9 a.m. and 6 p.m. on Tuesday, Aug. 16, and at 6 p.m. on Tuesday, Aug. 30. Commissioners are expected to approve the property tax rate hike and new budget following the final hearing.
For property owners, a mill translates as $1 in tax for every $1,000 of property assessed value at 40 percent. That means a property owner pays taxes on 40 percent of the valuation, less a $2,000 homestead exemption for a residence.
A property worth $100,000 would be taxed on $40,000 and the homestead exemption would be deducted from that tax bill.
In general, this year’s millage increase (1.109), if approved, will add about $44 to the tax bill of a property with a value of $100,000.