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Century Final Public Hearing Monday On Millage Rate Increase, Budget
September 19, 2016
The Town of Century will hold their final public hearing on their tentative budget and proposed millage rate increase at 6:50 p.m. Monday, just prior to a 7 p.m. council meeting
The town council gave preliminary approval to raising the ad valorem millage rate from 0.9005 to 0.9732 for the next fiscal year. That’s equal to a $3.63 tax increase on a $50,000 property. The town lost $404,593 in taxable property to the February tornado, according to the Escambia County Property Appraiser’s Office.
The increase will enable the town to meet their proposed $3.75 million budget for fiscal year beginning October 1. The upcoming year’s budget is down from the current year’s $5.1 million budget, which included about $2.2 million in grant income and expenditures.
The regular council agenda for Monday night includes only regular business items.
NorthEscambia.com photo, click to enlarge.
Comments
5 Responses to “Century Final Public Hearing Monday On Millage Rate Increase, Budget”
A “millage rate” uh , where I come from they call that a “tax rate” ?
In my calculations, I may have made an error? Can anyone else see the other variable I may not have considered in the equation ? Again, just me but $3.68 on 50K? Mostly businesses will pay that. Everyone in the area can benefit from some of the goods and services in Century if you do not live here. Think about it.
@Ponderosa Hill
Good question, it got me thinking.
>>>>Does Century pay for county school sheriff tax etc on these properties?
Back to civics class
The answer is NO.
The town government does not pay individual property owner’s taxes into the county fund.
I think it means they suffered a total value of approx 400K total, that they can receive their tax on for their budget.
yes the negligent millage rate does only put about that much into the coffers. It shows what a tight budget these folks use and how well they manage to provide the utilities and services that they do. I am so completely in agreement and trust them and the accountant and believe Century is alive and well and thriving and going to continue to flourish.
I appreciate a challenging question that gets me thinking.
I appreciate good reporting and I appreciate North Escambia keeping the quality of there reporting in their comments.
But don’ let it escape you that I see the picture with doom and gloom with a flag half mast.
It is not an actual representation of the truth,– subtle yes, valid no.
Wondering how many Century Citizens will actually show up for this meeting where their Property Taxes may Increase?
Wonder how many Century Citizens will take the opportunity to speak Pro or Con?
Wonder how many who do Not Attend the meeting will fuss and fume about a Property Tax Increase?
Lots to wonder about these days for Century.
So when century lost 404,000 in taxable properties….century then has to pay the county,school,sheriff taxes on those properties? or do they only lose the approximately 1 mill the town would have collected ? I’m thinking 1 mill on $400,000 assessed value equates to $400 per year. What am I missing ?