Commissioners court learns effective tax rate
By Roxanne Thompson, Staff Writer
Limestone County Tax Assessor-Collector Stacy Hall presented to commissioners court the 2017 Certified Appraisal Values, from which she calculated the effective tax rate and rollback rate for the upcoming fiscal year.
Hall’s initial presentation was at the court’s Aug. 8 regular meeting.
The total appraised values for Limestone County this year is $3.21 billion, which she said was down $55.03 million from last year.
The taxable value after homestead exemptions and agriculture use exemptions, Hall reported, is $1.90 billion; that is down $107.23 million from last year.
“The big loss was NRG again, the $110.46 million,” Hall said. “It’s down 21.64 percent from last year.”
“Another big loss was, of course, the mineral values,” she added. “They were down $25.69 million.”
Commissioner Pct. 4 Bobby Forrest noted that when the valuations exclude oil and gas, and the power plant, other property valuations rose.
“They increased $136 million, so more of the tax burden shifts to the people from the power plant, and oil and gas,” Forrest said.
“Right,” said Hall. “From what I’ve heard, we didn’t get hit as hard as some counties again this year, so it could be worse.”
The next presentation Hall made was for the effective and rollback tax rates. The effective rate is the tax rate that would produce the same amount of funds as last year. Even if the effective tax rate is higher than last year’s tax rate, it is legally considered not to be a tax increase.
This year’s effective tax rate is $0.8065, compared to last year’s tax rate of $0.7622.
Hall calculated the rollback rate, which is the tax rate that would require a vote by residents, to be $0.8818.
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