The extra taxes levied on a $100,000 fair-market value home in the city is about $26 for the year, for a non-homestead exempt $150,000 fair-market value home is about $39, on a non-homestead exempt $200,000 fair market home it is a $52.32 increase and on a $250,000 home the increase would be $65.40 for the year.
Without anyone speaking in opposition to an increase in the millage rate at any of the required three public hearings, Monroe City Council members voted Tuesday on a millage rate for 2019 of 7.802 mills, an increase of 0.654 mills or 9.15%. (Correction: The vote was not unanimous – Councilmembers Norman Garrett and Myoshia Crawford voted against it.
At last month’s City Council Meeting, Monroe City Administrator Logan Propes explained that the city had lost two substantial revenue bases, the largest one being with the sale of Clearview Regional Medical Center to Piedmont Healthcare. With Piedmont being a non-profit, there is no tax revenue to the city as opposed to the situation when the hospital was Clearview. Propes said with 100% being $47,200,502, the loss of tax revenue from Piedmont to the City at the 2018 millage rate would have been $137,391.22.
The millage rate of 7.802 mills will bring in an extra $247,083 at 100%, or more realistically $237,200 at a 96% collection rate.