Early estimates for Cobb County’s 2012 tax digest show a 3.9 percent decline compared to last year, according to the county’s tax assessor.
The tax digest, made up primarily of the value of homes and commercial properties, is used to by county officials to estimate revenue and determine budgets. Cobb’s estimate doesn’t include motor vehicles, mobile homes and public utilities.
Despite the decline, which equates to about $8.3 million, the county is in good shape, said finance director Jim Pehrson. Cobb had already factored a 2.5 percent decline in its current budget, and as of February, had a $3.4 million surplus after reserves and had set aside about $3 million for uncontrollable costs like fuel and utility costs. Ultimately, Cobb should be able to absorb the estimated $2.2 million in revenue loss, Pehrson said.
Cobb’s final digest will be approved in June. The county's digest declined about 5.5 percent in 2011.
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