County tax rate may fall, but some may pay more taxes
By By Lynette Wilson / staff writer
Sept. 15, 2002
Even though Lauderdale County supervisors plan to reduce the tax rate next year, some residents could pay more in taxes thanks to countywide property reappraisal.
Property values have increased throughout the county, allowing supervisors to reduce the tax rate while still taking in more revenues for the fiscal year that starts Oct. 1.
The Lauderdale County Board of Supervisors will have a public hearing on their proposed budget at 5:30 p.m. Monday in the first-floor board room of the courthouse annex.
Supervisors are expected to approve the budget Thursday.
The proposed budget calls for a tax rate next year of 98.33 mills on county residents outside of Meridian, down about 6.6 percent from 105.34 mills for the current year.
Meridian residents would have a tax rate of 43.06 mills next year.
A millage rate is the amount of tax paid per dollar on assessed value of property. One mill is one-tenth of 1 cent; for each mill, a taxpayer pays $1 for every $1,000 of assessed value.
Here's how the proposed tax rate would affect homeowners in Lauderdale County.
Owners of a $50,000 home with homestead exemption would pay $191.65 next year. Without homestead exemption, they would pay $491.65.
Owners of a $100,000 home with homestead exemption would pay $683.30 next year. Without homestead exemption, they would pay $983.30.
Owners of a $150,000 home with homeowners exemption would pay $1,174.95 next year. Without homestead exemption, they would pay $1,474.95.