Madison County commissioners and school board members both voted to keep property tax rates for 2013 steady last week.
The board of commissioners (BOC) voted Monday to roll back the county’s unincorporated (out-of-city) rate from 11.11 in 2012 to 11.011 mills this year. The incorporated (in-city) rate was approved at 12.109 mills, the same as last year.
Meanwhile, the board of education (BOE) voted Tuesday night to keep the tax rate at 16.99 mills in 2013. The BOE is not levying a separate millage rate for bonds (construction debt) as it did in recent years.
Madison County’s digest — its overall property value — is $598.9 million in 2013, up from $579.7 million last year. However, values are still down considerably from a high of $676.2 million in 2010. In that year, the Madison County government levied $7.6 million in local property taxes. The county government plans to bring in $6.6 million in taxes this year.
The school system has also lowered its property tax revenue intake in recent years — from a high of $11.5 million in 2010 to $10.2 million this year.
Madison County property owners can expect tax bills some time in October.