The Henry County Board of Commissioners Tuesday held its third of three public hearings on the Fiscal Year 2023 millage rate. Following the hearing, the Board voted 5-1 to leave the millage rate unchanged at 12.733 for a sixth consecutive year.
While the County’s tax revenue is projected to rise, this owes to rising property valuations caused mostly by inflationary growth in the economy rather than any action taken by the government. And the majority of this burden will be felt by commercial property owners, who are not eligible for the county’s homestead exemption on their businesses.
As District 3 Commissioner Dee Anglyn pointed out, “Make sure you have your homestead exemption.”
This is because Henry is one of just 13 counties in Georgia with what’s known as a frozen homestead exemption. Under the provision, the assessed value of your home – as used by the County to determine your taxes – is pegged to the year prior to when a resident applies to homestead their property.
District 1 Commissioner Johnny Wilson underscored the impact the frozen provision has had on his annual bills.
“From 2017 to the current assessment, my County tax went up $15,” Wilson said. “Look at the amount of services that have been provided in that time, and it costs me $3 a year.”
The government plans to use its revenue increase to hire ten new police officers as well as ten new firefighters and paramedics. Importantly, dollars are also being set aside in the event of an economic downturn.
“In 2008, [during the Recession], the County increased the millage rate and furloughed employees,” said Financial Services Director David Smith. “In this budget, with savings in the fund balance, it allows us to not furlough employees for at least three years should revenues fall.”
Notably, the public hearing and subsequent vote pertained exclusively to the County portion of local property taxes. This amounts to 37 percent of the total millage rate, with another 5 percent going to the water authority and the remaining 58 percent going to the school system. The Henry County School Board approved a renewal of its assessed millage rate on Monday evening.
