Has anyone asked if the mill rate will go DOWN?

[EagleWings]

I'm not sure about this one. Let's say the rate increase is going to go through and 75% of us will not see an increase in our taxes. However, in a year or so when they decide to start reassessing our homes (AGAIN) are they going to roll back the mill rate to compensate for the high dollar amount we'll be forced to pay? Will the mill rate go down in a couple years if/when our properties start to increase in value again? Is that a legitimate question to get candidates on record NOW?

Edited August 9, 2010 by Blazing Saddles

[tmilanese]

Every year is a fresh battle my man. That's why I'm opposed to them raising the mill-rate this year when they don't actually need the money for this year.

[surepip]

I believe they have to reduce the millage rate if assessments go back up. If not, then they have to hold public meetings to discuss why not.

 

This was Shearin's Dog & Pony Show every August. The assessments would go up 10%, and they would roll back the millage rate by 0.01 mill, and then have a back slapping party to celebrate the tax decrease.

 

Then when you got your tax bill in September it would be almost 10% higher than last years, even though they rolled back the millage rate.

 

This year assessments have gone down, county wide, by an average of more than 14.5%. Mine went down 25%. Your net tax bill will be that much less than last year, plus the less than 1 mill they are discussing tomorrow.

[mei lan]

I'm not sure about this one. Let's say the rate increase is going to go through and 75% of us will not see an increase in our taxes. However, in a year or so when they decide to start reassessing our homes (AGAIN) are they going to roll back the mil rate to compensate for the high dollar amount we'll be forced to pay? Will the mil rate go down in a couple years if/when our properties start to increase in value again? Is that a legitimate question to get candidates on record NOW?

 

It's a legitimate question, and my opinion is that they won't roll it back unless they're forced to...they'll hang on by their fingernails until every last finger is pried off. Surepip may be correct in that the law may make them (I think I've read that somewhere), but I don't count on anything with a bunch of crooks, which I consider all politicians to be until they prove different.

[EagleWings]

I believe they have to reduce the millage rate if assessments go back up. If not, then they have to hold public meetings to discuss why not.

 

This was Shearin's Dog & Pony Show every August. The assessments would go up 10%, and they would roll back the millage rate by 0.01 mill, and then have a back slapping party to celebrate the tax decrease.

 

Then when you got your tax bill in September it would be almost 10% higher than last years, even though they rolled back the millage rate.

 

This year assessments have gone down, county wide, by an average of more than 14.5%. Mine went down 25%. Your net tax bill will be that much less than last year, plus the less than 1 mill they are discussing tomorrow.

I for one, would love to see some of these candidates and current office holders to go on record saying they will roll back the millage when assessments go back up to keep our taxes balanced. Just like they are doing now. I seriously doubt anyone would have the gonads to do that.

[surepip]

It's a legitimate question, and my opinion is that they won't roll it back unless they're forced to...they'll hang on by their fingernails until every last finger is pried off. Surepip may be correct in that the law may make them (I think I've read that somewhere), but I don't count on anything with a bunch of crooks, which I consider all politicians to be until they prove different.

 

 

If assessments go up, and the tax digest increases a certain amount [i don't remember the formula] then they have to either approve a millage rate decrease, or hold the required public meetings advertised for the purpose of discussing the non-rollback as a tax increase.

 

Now, I would think asking at tomorrows meetings your hypothetical question would be pertinent; "Will the BOC decrease the millage rate next year by 0.95 mills if the tax digest next year increases by 14.5% ?". And get Pubby to get the replies on film.

 

I believe the bond service millage rate floats automatically by the interest and charges to service the bonds. If we get a decreased rating because of going below the minimum reserves then the millage rate to service the bonds will go up. According to Austin's cover letter for the millage rate increase this year is to insure this does not happen.

 

But then the fringe element like good ol RR don't care about that sort of risk.