Greenville tax rate up, town valuation down
GREENVILLE — The tax rate for the town has taken a jump this year, going up $8.88 over the tax rate for 2012.
According to a press release issued by the Town Administrator Kelley Collins on Oct. 24, although the increase in the overall tax rate seems to be high, most residents will not be hit too hard by the increase, due to a recent assessment of property values in Greenville. “While the increase looks big, most people should see only a modest increase in their overall tax bill,” Collins wrote.
According to the press release, town officials believe most property in town was being assessed at an equalization ration of 150 percent. After the assessment, the total town assessed value dropped from $137,618,658 in 2012 to $97,270,038 this year. Residents whose homes are valued at $200,000 after reassessment, can expect a tax bill of $5,746.
“For the taxpayer, this means that while the tax rate has increased significantly, when applied against the lower property assessment the overall tax bill should not rise that much,” Collins wrote in the press release.
Local school taxes account for the largest increase in the tax rate, going from $5.49 last year to $10.50 this year. The town tax portion increased from $11.61 in 2012 to $14.47 this year. County and state school taxes also went up this year, with county taxes going from 85 cents up to $1.12, and state school taxes going up 74 cents, from $1.90 to $2.64.
Ashley Saari can be reached at 924-7172 ext. 244 or email@example.com. She’s on Twitter at @AshleySaari.