Forsyth County New Millage Rate

The Forsyth County Board of Commissioners adopted an increase in the county's millage rate during a special called meeting Thursday, July 22, at a rate lower than the advertised, proposed increase. The vote followed the third of three public hearings held regarding the millage rate.

The approved Maintenance and Operation rate is 4.734 mills, up from 3.834 mills in 2009. The approved Fire rate is 1.975 mills, up from 1.841 mills in 2009. The increase in these rates was approved to help offset projected deficits in the county's 2011 preliminary budget and the Fire Department's 2011 preliminary budget.

The approved Bond rate is 0.947 mills, down from 1.196 mills in 2009. The reduced Bond millage rate reflects the debt service requirements for bonds in 2011.

These approved rates represent a total county millage increase of 0.785 mills, compared to the advertised, proposed total increase of 1.48 mills.

The millage rates adopted July 22 will fund the county's 2011 budget, which will be adopted toward the end of 2010.

So what does this do to my tax bill you might ask? Well, if you take last years tax bill to get the following values: fair market value and assessed value. Then use the new millage rate of 24.719 mills. Here is how to do the calculation:

Fair Market Value (F.M.V.) X 40% = Assessed Value

Assessed Value X .024719 = Tax.

Also remember that your Fair Market Value may go down this year. Property values as a whole have gone down and when you get your notice of value please make sure you take note of where your value is. Also remember that for the 2010 tax bill values are based on sales from 1/1/2009 to 12/31/2009 not today's sales. Please let me know if I can assist you once you get your letter of value.