MORGAN COUNTY
The property tax picture in Morgan County is becoming clear as government entities adopt millage rates.
The City of Madison adopted a millage rate of 5.424 citywide, which will obligate a Madison resident to pay for $217 in property taxes for each $100,000 of property owned.
Tax rates for special tax districts have also been adopted. The millage rate for the special downtown district has been set at 1.001 which translates to a tax obligation of $40 for each $100,000 of property.
The interstate corridor district has a new millage rate of 1.122 which obligates property owners to $45 for each $100,000 of property.
The Morgan County Board of Commissioners set a rollback millage rate at 9.99 mills, which would mean that a property valued at $100,000 would obligate its owner to a tax of approximately $399.
According to Morgan County Finance Officer Lori Sayer, the net digest value increased by 14.72% but only resulted in an 8.32% increase in property tax revenue.
“The rollback millage rate was 10.298 mills, however, the board decided to decrease the millage rate to 9.99 mills which was actually a 3% decrease over the rollback millage rate,” Sayer said. “The county is in a good financial position at this time, so they felt it was a good time to give some additional tax relief. This is the first time the millage rate has dropped below 10 mills since 2015 and is comparable to the average millage rate over the past 35 years.”
The Morgan County Board of Education has not officially adopted a new millage rate, but a rollback millage rate of 13.511 mills has been proposed and is expected to be approved at the Aug. 14 meeting of the BOE.
The previous rate established by the BOE was 13.88 last year and 13.91 in 2021. A tax rate of 13.511 mills would mean property valued at $100,000 would have a tax obligation of approximately $540.44.
The BOE’s millage rate has declined each year since a high of 18.2 mills in 2013.