City of Columbus makes plans for next year’s budget
COLUMBUS, Miss. (WCBI) – Columbus city leaders are still ironing out next year’s budget.
The biggest wrinkle has been setting the city’s millage rate.
The mill is the basis for figuring tax rates on property.
Since the value of the mill in Lowndes County has gone up, the city had originally decided to reduce its millage from last year’s rate of 54 point 11 to 53, but with the increase in value, that still meant higher tax bills for property owners.
The council has been taking another look at the numbers, and after getting input from the tax assessor, is considering a drop of another one and a half mills.
But that reduction will mean budget cuts.
“At 53, we’re able to accommodate the pay increases, the vehicles, and the capital that we need, and have a balanced budget. At 51.5 mills, reducing it one and a half mills would reduce our budget by about $300,000. That would put in jeopardy pay increases. That’s about the amount of the pay increases,” said Columbus Financial Officer Jim Brigham.
In dollars and cents, the difference between 53 and 51 and a half mills is about $28 on a $173,000 home.
There will be a public hearing on the budget September 6.
The city must set its millage by then and approve the budget by September 13.
