A family with a $450,000 fair-market-value home will see an increase in their taxes between $119 and $125.
The Oconee Board of Education on Monday approved a millage rate of 15.5, which represented a compromise between a tentative rate of 16.25 and a rollback rate that was desired by citizens of 14.8.
The originally proposed 16.25 millage rate would have resulted in a tax increase of between $246 and $258 for a property owner with a $450,000 home.
Despite the tax increase due to an inflationary rise in property assessments, the 15.5 millage rate represents the lowest millage rate for Oconee County Schools during the 21st century. It’s also a full mill less than last year.
Chief Tax Appraiser Allen Skinner told The Oconee Enterprise that higher assessments are due to market inflation, growth and demand.
“There’s plenty of demand and little supply, and that generally equates to higher prices,” Skinner said of the housing market. “You don’t have to do anything to your house for it to appreciate. Generally, the subdivisions go up more. They are more desirable. They have covenants and amenities.”
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