The Cherokee County Board of Commissioners recently unanimously lowered the board-controlled millage rate from the 2022 rates that will result in lower tax bills this fall for more than 60% of the county’s residential property owners.
In addition to the $5,000 standard homestead exemptions, homesteaded properties values are frozen for the county maintenance and operations tax when homestead applications are filed.
The state is using excess funds in state coffers to provide property tax relief to homesteaded property owners, equaling a reduction of $18,000 on the property’s assessed value.
A home valued at the median home value of $475,000 - with the standard $5,000 homestead exemption and homestead freeze filed in 2015 - would pay a total BOC-controlled tax bill of $1,199.
The tax bill for this example property additionally would be reduced by $435.02 since homesteaded properties will receive the same state rebate amount.
More details can be viewed at cherokeega.com/Communications.
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