 UPDATED:
03/02/2008
Lumpkin County
The county's 2005 budget is
$13,776,296. Of that amount, $6,108,443 is projected to come from
property tax collections. Because Lumpkin County does not divide projected
revenue by unincorporated vs. incorporated in its budget, it must be estimated,
to complete a meaningful analysis, that $4,906,133 of that amount is from
unincorporated Lumpkin, while $1,202,310 will come from incorporated Lumpkin.*
The Net Tax Digest (the 40% value
of all taxable property) for unincorporated Lumpkin is $705,168,722. The
incorporated value is $172,810,532 for a total of $877,979,254.
The county has adopted millage
rates of 8.052 for unincorporated and 9.068 for incorporated.
When applied to the Net Tax
Digest, the millage rates will together generate $7,245,064.45, which is
$1,136,621.45 more than required by the budget.
In other words, when the
Commission approved the 2005 budget, they told the people of Lumpkin County that
$6,108,443 of their tax dollars would be needed to balance the budget and fully
fund the approved expenditures. When the Commission later set the millage rates,
however, it adopted rates that will take $1,136,621 more from the
property owners of Lumpkin than the Commission told them would be necessary.
This amounts to an estimated
overpayment** this year of $126.64 for the owner of a $150,000 home in
incorporated Lumpkin County; the owner of similar property in unincorporated
Lumpkin will pay about $66 more. The overtaxation averages approximately $294
for each Lumpkin County real property owner (a little less per if you count the
overtaxation on motor vehicles).
The county-wide mathematical millage rate is 6.957.
*(The
numbers for incorporated/unincorporated are estimates based on the percentage
division of the Net Tax Digest between the two. The analysis for the county
overall is mathematically accurate.)
** (Not considering applicable exemptions,
which may affect an individual tax bill but does not affect overall numbers.)
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