County sets property tax at 8 mills for now

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Tax rate may go lower for upcoming year

By The Staff

The property tax millage for Levy County is tentatively set at 8 mills, but that could change as the Board of Commissioners keeps whittling the budget for the upcoming fiscal year that starts Oct. 1.

County Coordinator Fred Moody said property owners will see the 8 mills rate on their TRIM (Truth in Millage) notices that will be mailed out, but that rate is not set in stone and it could go down.

The commission is required by state law to set a tentative millage rate by August 4, which was Tuesday, and that is the maximum rate it could charge in the coming year, but it is allowed to lower the millage rate after the August 4 deadline to report the millage to the state. Commissioners discussed setting the millage at 8.3763 in order to raise the same amount of money as last year’s rate of 7.4212 did.

Because of declining property values, revenue would decrease considerably under last year’s rate of 7.4212. At 8.3763, the county would have raised the current year’s property tax revenue of $16.602,960. At 8 mills per $1,000 of property value, the county will raise $15,923,670 which would be up from $14,771592 at the current millage.

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