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Lowest Again
In Spite Of Tax Hike, Commerce Maintains
Lowest Property Rate In Jackson County
In spite of a 1.42-mill tax increase this year, Commerce for at least the seventh year in a row, has the lowest property tax rate in Jackson County.
Counting all ad valorem taxes, Commerce residents pay at a total rate of 29.24 mills, a figure that includes county taxes of 10.28 mills, the state tax of .25 mills, the Commerce School System tax of 17.75 mills, and the city tax rate of 1.66 mills.
A mill represents a dollar of taxes for every $1,000 of assessed value.
Since the assessment is supposedly 40 percent of fair market value, a Commerce resident with property worth $100,000 would pay $1,169 in ad valorem taxes for 2005, not counting any exemptions that might apply. With the same property in 2004, the taxpayer would have paid $1,112, an increase of 5.1 percent.
By contrast, the average taxpayer in Jackson County would have shelled out $1,341 and a resident of Maysville with identically-valued property would pay $1,543.
“It’s nice to have the lowest tax rate again in the county,” acknowledged Mayor Charles L. Hardy Jr. “Add that to the lower utility rates our citizens enjoy and we feel like Commerce is a great place to live.”
The next-lowest rate to that of Commerce was the North Jackson area, where residents pay 32.39 mills.
Taxes were up in each of the 19 tax districts in the county. Commerce residents saw their school tax rate increase by 1.69 mills and their county government rate increase by .35 mills, but they are the lucky ones. The city government kept its rate at 1.66 mills and Commerce taxpayers are the only taxpayers in Jackson County that do not pay a school bond tax. Jefferson residents pay 3.3 mills for school bonds and county residents pay 3.7 mills. Both were up substantially, thanks to education bond issues approved by the voters.
Four municipalities in Jackson County levy taxes. Of those, Commerce has the lowest rate, 1.66 mills, compared to three mills for Pendergrass, almost five for Maysville and 6.49 mills for Jefferson. Because it owns its own utility system, little of Commerce’s operational costs are derived from property taxes. However, Commerce residents also get a break on electricity and natural gas because the city has the lowest rates in most rate classes when compared with other locally-available utilities.
Tax rates are only part of the total tax bill picture. The value of property is the other. As the county increases the assessed value of property, each mill of taxes costs more money. The owner of property valued at $100,000 in 2005 but valued at $120,000 in 2006 will pay 20 percent more taxes in 2006 even if the tax rate stays the same.
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