City bumps up millage rate
Published 2:00 pm Friday, August 28, 2020
- Valdosta City Council approved a minor increase to the city millage, resulting in a rate of 7.974 mills.
VALDOSTA — The city millage rate will increase by 0.165 this year.
At the same hearing that resulted in the Valdosta City Council mandating face coverings while out in public and inside government buildings, council members approved a new millage rate of 7.974 Wednesday evening.
]The vote was a 5-2 decision with Council members Vivian Miller-Cody and Sandra Tooley opposing the increase.
The previous millage rate had been 7.809 mills, but that rate would have caused a $240,563 budget deficit, said Chuck Dinkins, Valdosta finance director. By upping it to 7.974 mills, the city will see only a $353 deficit, he said.
To calculate millage, one mill is equal to a resident’s property value divided by 1,000.
Property is taxed on 40% of its value, according to Dinkins, who also reiterated there is a $6,000 homestead exemption.
Dinkins explained to council that 22% of city property tax dollars are received by the city with 47% going to Valdosta City Schools, 24% to Lowndes County, 4% to the parks and recreation department and 3% to the Valdosta-Lowndes County Development Authority.