I wanted to share with you the presentation made by CFO David Gruen at our July 20, 2017 Board of Commissioners’ meeting. Click here for presentation. Also, Mr. Gruen made the following comments regarding the millage rate.
For the homeowner with the homestead exemption –
1. If the assessed valuation for that home has increased from the prior year:
a. Taxes that will not increase are the county M & O and the Fire Department taxes
b. Taxes that will increase are the county bond taxes and the Board of Education taxes [except for those who qualify for the senior exemption (age 65) and already do not pay any school taxes]. It is these two taxes that cause an increase in the total tax bill for a residence.
2. If the property assessment has not increased from the prior year – no increases in property taxes
Note: all of the above is true for this year since the Board of Commissioners and the Board of Education have advertised levying the same millage rates as last year. The bond millage rate is paying the principal and interest due each year on the Park Bonds [$100,000,000] and the Transportation Bonds [$100,000,000].
I thought it is important to understand your tax bill and how it is calculated. While the millage rate has stayed the same, there is an increase and I wanted to be sure people understand where that comes from on your bill. As always thank you for your support to Forsyth County. Ask your friends to sign up for our blog posts.
Cindy Jones Mills
Forsyth County BOC/District 4