As Forsyth County government officials continue to work on the 2022 county budget, the Board of Commissioners has adopted all millage rates levied by county entities.
The county’s portion of the overall millage rate is 7.896 mills, which is the same as last year. A statement from the county said the growth of 4.54% in Forsyth County’s tax digest means that, while the county is maintaining the same millage rates with no change, the anticipated total collections will increase. Of the 4.54% growth, 2.52% is due to new construction in 2020 and the remaining 2.02% comes from increased values from reassessments. Any change in an individual tax bill will depend upon the change in assessed valuation for that property, and the value of any Homestead Exemption, which may also change with the assessed value. Forsyth County has a floating Homestead Exemption, which is designed to keep the net taxable value at the prior year’s amount. The floating exemption only applies to the county M&O and fire portions of property tax bills.
Other millage rates approved for the county are:
- Maintenance and Operations (M&O) millage rate of 4.791 mills, the same as last year. Due to the growth in the tax digest, Maintenance & Operating property taxes levied by the County this year will increase by a net 1.98% over the rollback millage rate.
- Fire rate of 2.175 mills, unchanged from last year
- Bond rate of 0.930 mills, unchanged from last year
All of the collections from the various taxes will fund Forsyth County’s 2022 general operating budget, which is currently in the preliminary stages of development. Forsyth County staff, Finance Committee and Board of Commissioners will continue preparing the proposed 2022 budget, which is slated for adoption in October.
The adoption of the millage rates occurred at the county commission meeting on July 22.
