The Berkeley Lake City Council voted recently to reduce the city’s 2016 ad valorem property tax millage rate to 2.369 mills. The rate is lower than the 2015 millage rate of 2.47 mills and also lower than the rollback rate of 2.374 mills.
Each year the county tax digest can increase due to inflation, or due to new or improved properties. State law requires the city to calculate a rollback millage rate each year to offset any inflationary increases in the tax digest. If it does not, the city must notify the public that taxes are being increased.
Berkeley Lake’s new lower tax rate means, for a home with a fair market value of $400,000, the city property tax in 2015 was $395.20. For a home with the same fair market value, the 2016 city property tax will be $379.04, which is about a 4 percent reduction.
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