While county homeowners will see a $240 hike on their tax bills due to the state’s discontinuation of the Homeowners’ Tax Relief Grant, Colbert residents won’t see an increase in their city taxes.
The Colbert City Council lowered its millage rate from 3.95 to 3.5 during a very brief meeting recently.
That rollback will spare Colbert taxpayers an average of $35 per household that would have been imposed with the state grant being cut.
All told, Colbert will cover about $4,500 worth of lost state money this fiscal year.
Though voted on last week, the idea to absorb that cost for homeowners was originally posed at the council’s September meeting.
Colbert leaders then agreed at their Oct. 5 meeting to approve their 2009-2010 budget with the tax rate reduction in mind.
The Colbert City Council meets again on Nov. 2, on the eve of the city’s municipal election. The council has three candidates vying for one council seat.