Wednesday, October 29, 2014

Understanding Millage and Assessed Property Values

It is important to realize that the calculating of millage is based on assessed property value.  Tunica County's assessed property values have been going down for awhile now.  The 2013 assessed property value for Tunica County is $255,867,526.  It is my understanding that the increase in millage for our General Fund will replace the monies lost due to the decrease property values.  I do not have the 2014 assessed property values yet but I think we have lost about $20M.  I will check this out and get the exact figure for Tunica County in 2014.

The Counties that are highlighted in green are Counties that have between $200M and $300M in assessed property values for 2013. Now take a look at the millage of the green Counties. 

Since 1997, Tunica County has not had a tax structure that was tied to the gaming revenue.  That is to say when our gaming revenue decreased, we did not adjust our millage accordingly.

In addition to all of that, we kept building without feasibility studies.  Somebody, please, show me a feasibility study for the airport or anything else for that matter. 

County
General
Road
Bond Interest & Sinking Fund
2013 Assessed
 
Fund Mills
Fund Mills
(Debt Service)
Property Value
Adams 47.48 4.00 1.54
$314,348,646
Alcorn
25.85
7.06
3.06
$224,300,825
Amite
23.69
12.00
0.00
$140,906,609
Attala
32.45
10.94
0.00
$185,946,019
Benton
55.36
9.29
2.00
$70,982,341
Bolivar
31.50
14.51
0.71
$321,272,272
Calhoun
41.00
15.50
5.35
$83,205,582
Carroll
48.92
13.24
0.40
$74,132,079
Chickasaw
46.80
6.20
0.00
$93,579,927
Choctaw
26.36
10.88
0.00
$257,934,325
Claiborne
29.00
29.33
24.39
$72,294,634
Clarke
22.41
12.88
2.24
$232,565,469
Clay
33.50
7.00
7.33
$139,858,871
Coahoma
23.99
8.54
0.00
$205,997,825
Copiah
31.59
18.14
4.34
$208,037,674
Covington
22.82
9.60
0.00
$263,049,820
Desoto
26.42
7.00
5.38
$1,643,505,682
Forrest
30.00
10.47
11.23
$650,134,400
Franklin
29.00
7.90
2.17
$101,698,012
George
29.59
4.25
5.87
$160,797,910
Greene
31.41
24.70
3.89
$117,228,577
Grenada
30.96
11.18
3.85
$216,330,081
Hancock
25.53
3.26
5.26
$540,941,681
Harrison
22.29
2.57
4.23
$2,015,020,294
Hinds
26.18
1.78
1.75
$1,904,759,525
Holmes
44.47
12.32
1.69
$116,866,471
Humphreys
66.50
14.00
14.10
$78,894,648
Issaquena
67.64
9.80
2.32
 
Itawamba
32.00
10.40
10.85
$129,893,373
Jackson
26.23
10.50
2.93
$1,657,296,431
Jasper
37.50
3.00
3.81
$454,356,870
Jefferson
59.37
12.91
0.00
$57,045,134
Jefferson Davis
38.96
14.81
1.80
$127,217,107
Jones
29.30
4.50
7.00
$703,236,035
Kemper
40.00
28.00
2.57
$134,499,038
Lafayette
16.20
6.76
0.00
$525,198,695
Lamar
30.35
15.75
1.20
$591,171,350
Lauderdale
24.15
8.84
9.12
$610,797,876
Lawrence
33.48
10.67
2.14
$137,633,375
Leake
31.50
18.70
5.20
$119,494,241
Lee
16.44
7.67
0.00
$834,885,585
Leflore
39.21
10.14
7.79
$249,036,224
Lincoln
27.75
8.52
7.77
$385,905,735
Lowndes
25.30
8.44
0.00
$1,016,392,639
Madison
18.49
4.36
6.55
$1,440,754,201
Marion
50.50
11.00
6.31
$172,208,736
Marshall
45.06
25.71
1.64
$236,964,780
Monroe
25.17
16.79
4.70
$320,998,545
Montgomery
51.31
19.51
0.21
$62,519,532
Neshoba
31.70
12.50
8.60
$164,163,057
Newton
34.74
16.15
1.50
$115,439,513
Noxubee
53.99
13.15
7.25
$66,837,187
Oktibbeha
27.60
11.41
5.56
$351,650,264
Panola
34.63
16.42
4.35
$251,600,781
Pearl River
37.05
9.00
0.00
$371,947,604
Perry
25.74
14.70
8.96
$126,379,933
Pike
26.62
10.92
4.39
$346,234,309
Pontotoc
38.75
15.50
2.50
$170,596,337
Prentiss
41.05
5.00
3.75
$131,806,367
Quitman
48.00
30.73
3.35
$70,343,765
Rankin
21.94
9.72
4.08
$1,504,329,895
Scott
45.12
13.09
7.55
$178,100,362
Sharkey
48.80
5.00
0.00
$44,113,162
Simpson
28.03
9.80
2.05
$271,380,494
Smith
35.37
12.25
5.15
$201,347,312
Stone
44.02
11.51
0.00
$111,386,049
Sunflower
33.00
10.18
8.95
$176,510,521
Tallahatchie
43.04
27.47
0.00
$108,044,759
Tate
54.99
15.00
5.42
$167,036,786
Tippah
42.92
14.41
4.41
$119,881,814
Tishomingo
17.00
9.00
4.25
$153,144,530
Tunica
9.14
0.00
15.77
$255,867,526
Union
31.81
18.54
0.00
$273,127,870
Walthall
39.79
9.75
2.86
$100,931,799
Warren
24.05
9.20
1.12
$602,871,341
Washington
37.41
9.72
2.66
$409,336,027
Wayne
18.25
13.00
3.50
$415,908,715
Webster
44.40
16.00
1.77
$62,403,445
Wilkinson
56.23
10.00
0.00
$91,613,977
Winston
26.10
8.45
0.00
$124,899,704
Yalobusha
58.20
13.85
5.54
$78,865,064
Yazoo
27.03
20.54
9.39
$405,875,017

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