The National Association of Counties (NACo) has proclaimed April as National County Government Month. Each day this month, we will provide different facts about Nassau County, including information about its history, services provided and more.
PROPERTY TAX REDUCTION
Are you aware that for the last 2 fiscal years, the Board of County Commissioners has reduced its countywide millage rate, with the goal of having no tax increase for homesteaded properties? In fact, a County budget policy was updated on October 1, 2021 to read, "The County shall adopt a “revenue driven” budget philosophy where expenditures are limited to expected revenues based on the existing millage rate adjusted to account for changes in the percent change in the “Save Our Homes” (SOH) assessment limitation. This amount shall be equal to the Consumer Price Index (CPI) or 3%, whichever is less".
What is a millage rate you ask? Millage is the rate charged per thousand dollars of taxable value. For example, ad valorem taxes on a home with a taxable value of $350,000 would be calculated by dividing the value by 1,000, then multiplying the total taxable value by the current millage rate. For the current Fiscal Year (October 1, 2022 through September 30, 2023), the total millage rate is 9.3182, down from 9.6008 the previous year. (Countywide millage rate of 7.1041 + Municipal Services Fund rate of 2.208 = 9.3182).
So in this example, a home with a taxable value of $350,000 would pay the County $3,259.48 in taxes ($350,000/1,000 * 9.3128 = $3,259.48). Please note this does not include millage rates charged by other taxing districts such as the School Board, St. Johns River Water Management District, the Florida Inland Navigation District, the School Board, or a Municipality (charge to those residing in a City or Town). This is strictly ad valorem taxes paid to the County to support the Constitutional offices (Clerk of the Court and Comptroller, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector) and the Board of County Commissioners. The funding to the Board of County Commissioners is then further allocated to the Court, Department of Health, Emergency Operations, Fire and Rescue, Road and Facilities Maintenance, and other county operations.
Below are sample bill tax calculations that show how millage rates charged by Nassau County are distributed. In the first example, you will see that out of the $3,259 collected by the County for a property with a taxable value of $350,000, only $973 is distributed to the Board of County Commissioners. In the second example, you can see how the $973 allocated to the Board is distributed amongst the various Board departments.
Millage rates are established annually as part of the budget process. Based on the current budget policy, this year's budget would also include a reduced countywide millage rate. The Board will remain focused on seeking operational efficiencies and alternate revenue sources to continue supporting the Constitutional Offices and the operations of the County.
-Sabrina Robertson
Public Information Officer