You can't just look at the millage rate by itself. It is the millage rate times the total assessed value of the property in the county that matters. The millage rate has been rolled back for the last several years.
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Originally Posted by Aw Man
If the property tax millage rate increased each year based on the CPI we would NOT have had tax decreases each of the past 6 years and the millage rate for next year would be even HIGHER (7.018) than the current proposed rate (6.7).
The Sumter County property tax millage rate was above 6.0 from 2009/2010 through 2013/2014 with the highest millage rate being 6.35 for 2012/2013.
If the proposed millage rate of 6.7 for 2019/2020 is approved, this would represent only a 5.5% increase to the 6.35 rate we were all paying in 2012/2013.
If the 2012/2013 millage rate of 6.35 had automatically increased each year based on the annual Social Security Cost-of-Living Adjustments (CPI-W), then the proposed millage rate for 2019/2020 would be 7.018, an 11.5% increase to the rate we were all paying in 2012/2013.
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