From the Ingles Studios this is your news minute on the Cherokee Tribune Ledger podcast presented by Engineered Solutions of Georgia. Today is Monday July 24th and I'm Brian Giffin.
The Canton City Council voted unanimously to maintain the millage rate at 5.4 mills, resulting in higher tax bills for residents with increased home values. The rate has remained unchanged for seven years and is the lowest in the city's history.
For a home valued at $300,000, the estimated tax increase would be $72 at the 5.4 millage rate.
Canton currently has a senior property tax exemption that exempts taxes for up to $280,000, which was established 20 years ago by a public referendum vote. To make changes to this exemption, a new referendum would be required, potentially impacting the 30% of owner-occupied properties using the exemption. City Manager Billy Peppers and other city managers in Cherokee County have proposed a separate 1% Local Option Sales Tax (LOST) referendum to alleviate tax burdens for homeowners. This new sales tax would complement the existing Special Purpose Local Option Sales Tax and Ed-SPLOST, potentially reducing the tax burden for Cherokee County residents, especially considering that about 30% of sales taxes come from out-of-county residents.
Read more about this at tribuneledgernews.com. For the Tribune Ledger Podcast I'm Brian Giffin
www.henssler.com www.ingles-markets.com www.esogrepair.com
See omnystudio.com/listener for privacy information.
