UPDATE: HB581 And The Impacts To Walton County Residents Property Taxes

From Your Editor:  

     After more research into Walton County and Property Taxes for the past 20 years, I have concluded, that for Walton County Residents, HB581 may have a negative impact. It would appear that Walton County, while protecting its revenue stream to provide services to residents, has done an admirable job helping keep taxes consistent and fair across the board and I wanted to publish this information as it applies specifically to Walton County residents indicating such.  

Based on the available information, here's an overview of property tax rate changes and their basis for Walton County, GA over the past 20 years:

Millage Rate Stability

The Net Maintenance & Operation (M&O) Millage Rate for Walton County has remained relatively stable over the past two decades:

• From 2019 to 2024: The rate has been consistently set at 10.4130 mills.
• Prior to 2019: The rate was slightly higher, at 10.6770 mills in 2018 and 10.9050 mills in 2017 and earlier years.

This stability in the millage rate suggests that the county has not significantly increased or decreased its property tax rate over the past 20 years.

Effective Tax Increases

Despite the stable millage rate, Walton County has seen effective tax increases due to rising property values:

• For 2024: An effective tax increase of 3.29% over the rollback millage rate was announced.
• This increase is not due to a change in the millage rate itself, but rather to increased property valuations.

Factors Influencing Tax Changes

1. Property Value Reassessments: The board of assessors is required by law to review and adjust the assessed value of taxable property when recent sales indicate an increase in fair market value3.
2. Economic Growth: The county has experienced significant growth, leading to an expansion of the tax base.
3. Maintaining Revenue: The decision to keep the millage rate stable, despite increased property values, results in higher tax revenues for the county.

Historical Tax Levies

The Total M&O Taxes Levied have shown consistent growth over the years:

• 2024: $49,554,000
• 2023: $45,502,000
• 2022: $39,960,000
• 2021: $34,707,000
• 2020: $32,853,000
• 2019: $31,710,000

This trend indicates a steady increase in the county's tax base, likely due to economic growth and rising property values.

Homestead Exemptions

Walton County has implemented various homestead exemptions to provide tax relief:

• In 2003, voters approved new homestead exemptions.
• Senior citizens (65 or older) are exempt from Walton County school tax on their house and up to one acre of land.
• Regular homestead exemptions reduce taxable value by $4,000 for county purposes and $2,000 for school purposes.

Conclusion

While Walton County's millage rate has remained relatively stable over the past 20 years, effective tax increases have occurred due to rising property values and economic growth. The county has balanced these increases with homestead exemptions to provide some relief to property owners, particularly senior citizens.