The Cherokee County Board of Commissioners will hold three public hearings on the tax rate to fund the county’s 2023 budget.
Hearings by the commissioners will be at 6 p.m. July 5 and 11 a.m. and 6 p.m. July 19.
The board is expected to adopt the three millage rates during the 6 p.m. July 19 meeting.
As an example, now valued at $482,300, a Cherokee residence experienced a 20% increase in value from 2021-22.
That owner will see a decrease of $27 for the county M&O rate, a $46 increase for the fire fund and a $2 decrease for the parks bond for an overall annual increase of $17.
The advertised rate for Maintenance and Operations is 4.995 - down 4.2% from the current millage rate of 5.212 mills.
One mill is equal to $1 per $1,000 of assessed value; a property’s assessed value is 40% of its fair market value.
About 61% of the residential properties in Cherokee County have a homestead exemption.
Information: cherokeega.com
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