Unincorporated areas have 7% value increase; how that means higher bills for property owners
Figures for the Fayette County 2016 tax digest are in. The county as a whole showed an increase in overall property values of 5.7 percent on average, which was indicative of rising property values in all municipalities and in the unincorporated areas.
How does that affect your tax bill? It means that a one mill tax rate this year will bring in on average more money than one mill last year, so an unchanged tax rate by a governing body results in a higher tax bill for you. The tax digest is the total of all taxable property values in the county added together.
The figures provided by Fayette County Tax Commissioner George Wingo include the net tax digest amounts after exemptions and at 40 percent of fair market value, representing the amount of taxes due.
Considered in total, Fayette County in 2016 saw a 5.7 percent increase in property values over the previous year. Figures for 2016 showed Fayette property countywide valued at approximately $5.03 billion. That compares to approximately $4.76 billion in 2015.
Looking at the combined digest for municipalities, those values totaled approximately $3.089 billion for 2016, up from approximately $2.941 billion in 2015, and represented a 5.1 percent increase in value.
Peachtree City saw values increase 5.4 percent over last year. Figures for 2016 showed the city digest at approximately $1.939 billion compared to 2015 figures of approximately $1.841 billion.
Fayetteville in 2016 showed a digest totaling approximately $770.5 million compared to the 2015 total of approximately $732 million, a 5.2 percent increase.
Tyrone property showed a 3 percent increase in 2016, with property valued at approximately $355.7 million compared to approximately $345.4 million in 2015.
Brooks in 2016 had taxable property values at approximately $23.96 million while figures for 2015 showed approximately $22.45 million, an increase of 6.8 percent.
And in the unincorporated county, values for 2016 totaled approximately $1.92 billion, a 7 percent increase over the 2015 figures which totaled approximately $1.793 billion.
