Property Tax Hike Likely for Canton, GA

Overtaxed, underpaid, overworked…here we go again! The City of Canton is currently considering an increase in City property taxes – the first increase in 20 years! The proposed 2010 fiscal year budget calls for an increase slightly less than 1 mill – from 5.95 mills to 6.8 mills. The increase is proposed to try and offset a decline in city revenue and help keep the City of Canton above water with their finances.

What does this mean to you? Well, on a $200,000 home, your taxes would increase by approximately $65. Not too bad, you say, but don’t forget taxes will increase on top of that because of the demise of Homestead Exemption. Since we will not get the Homestead Exemption anymore, for the same price home your taxes will increase another $55 (based off the millage rate of 6.8), giving a total increase of around $110 for a $200,000 home.

So while I think the tax hike will cause a lot of moans and groans around the city, an extra $100 or so over a year is not too bad. Plus, it’s the first increase in 20 years! I for one am willing to cut Canton some slack on this one. Just this once though…

The City of Canton will be holding a public hearing at City Hall in regards to the tax increase. If you would like your voice to be heard, please attend one of the following sessions: September 3rd, 2009 at 6pm; or September 17th, 2009 at 10am and 6pm. 

Canton Real Estate
 

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