MillageRate.com

Porterdale, a small town adjacent to Covington in Newton County, Georgia, is considering a small loan to tide it over until tax revenues start rolling in. The long-term hope is that the city can avoid a tax of almost double last year’s rate:

Fox said if the council approved this measure, they would not need to adopt a millage rate of 14.26 as proposed earlier in the month as a solution to the budget gap. Instead the city would adopt a rollback rate of 9.156, which is actually higher than the current millage rate, but would not result in higher tax bills because of depressed property values.

Porterdale discussing tax anticipation loan

Newton County residents face a millage rate increase this year due to a lower tax digest:

Chief Tax Assessor Tommy Knight said more than 95 percent of residential properties in the county have decreased in value from 2008, with areas losing anywhere from a few percent to more than 30 percent of their value.

Values go down, but will taxes?