By Tia Lynn Ivey
Both the City of Madison and Morgan County adopted the rollback millage rates this week.
On Tuesday, The Morgan County Board of Commissioners adopted the rollback millage rate of 10.721, down from 10.895 in 2019. The new millage rate is a 1.62 precent decrease from the previous year.
Last Friday, The Madison Mayor and City Council unanimously adopted the rollback millage rates for all three of the city’s tax districts.
Madison’s city tax district now has a millage rate of 5.624, down from 5.720 in 2019. Madison Special Downtown Tax District is now 1.047, down from 1.050 in 2019.
Madison’s Corridor Special Tax District is now 1.202, down from 1.239 in 2019.
While every tax district in Morgan County and the City of Madison has adopted the rollback millage rate, it’t not a guarantee that every property owner’s tax bill will decrease.
According to County Manager Adam Mestres, the rollback rate offset some of the property value increases throughout Morgan County.
“Our digest has increased and values have gone up,” cautioned Mestres. “So the property tax bill will really depend on how the property is valued.
Some might pay a higher bill, some might pay about the same, and some will pay less.”
According to county and city officials, each local government’s fiscally-sound and conservative budgets enabled the county and city to adopt the rollback rates.
Morgan County’s general fund budget for the 2020-2021 Fiscal Year is over $19.3 million, a 3.9 percent increase from last year’s budget.
The City of Madison’s new budget is nearly $16.9 million dollars, about a $100,000 increase from the current year’s budget.