Brookhaven City Council has slightly trimmed the city’s tax rate for 2015.
With a unanimous vote of approval on July 7, the council adopted a tax rate of 2.74 mills, down from the 2.795 mills the city levied last year. The city has reduced its millage every year since it started, council members said.
“It’s a prudent move to give money back to the taxpayers,” Mayor Rebecca Chase Williams said.
Taxes are computed by multiplying the millage times the assessed value of a property, so the taxes levied on a particular property may rise or fall based on the property’s taxable value.
The city’s tax digest, the total value of property in the city as valued for tax purposes, recently has been set at about $2.6 billion, said city Finance Director Carl Stephens.
The 2.74-mill rax rate will produce about $7.13 million in property tax revenues, Stephen said. The 2.795 millage, if it have been continued, would have produced about $7.28 million in property taxes, he said.