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COUNTY BUDGET PROCESS
Local residents not only have a right to learn about how their money is spent, they should consider it a responsibility. Budgets are developed, proposed, amended and finally approved over time. Every county has a deliberate process of developing its budget, including work sessions and hearings, which are all accessible to the public. Each step in the process is advertised, and county residents are encouraged to participate in each phase. Participating is also a great way to learn more about the costs and complexities of county programs and services as well as the elected officials and staff responsible for running your county government.
PROPERTY TAX INFORMATION
Property taxes are a major source of revenue for counties in Georgia, accounting for nearly 40% of total county revenues. Property taxes aren’t just assessed on your home, but also on commercial property, and certain personal property. Taxes can vary based on the type of property and exemptions that may be in place. For example, the tax rate on a primary residence is 40% of its fair market value. Each percent of that assessed value equals 10 mills. A county’s governing authority sets its tax (or millage) rate, which is multiplied times the assessed value of your property. Most counties also offer homestead exemptions which can further reduce the amount of property tax that you owe. For more information on property taxes and how they are calculated, please watch the video below.
SALES TAXES
The second biggest source of a county’s revenue is its sales taxes, which include the visible taxes you see on your sales receipts at stores or restaurants, as well as special taxes collected for specific purposes. For example, most counties and cities have a voter-approved local option sales tax (LOST) which allows for the collection of a 1% sales tax on most goods. Revenue collected through LOSTs is distributed based on a formula agreed to by the local governments (county and municipal) within each jurisdiction to fund general programs and services. A voter-approved special purpose local option sales tax, or SPLOST, allows for the collection of a 1% sales tax to fund specific capital projects such as roads and bridges, courthouses or other county facilities, parks and other capital improvements. Voters may also approve county boards of education to collect a 1% education special purpose local option sales tax, or ESPLOST, to be used for education-related buildings or improvements.
OTHER REVENUE SOURCES
The remaining third of the average county’s revenue comes from sources other than property and sales taxes. Counties collect funds through special-use taxes on items such as alcoholic beverages, insurance premiums, hotel-motel stays and cable franchise payments. Licenses, permits and fees such as occupation taxes, building permits, and storm-water are also important revenue sources. As are service charges for county-provided ambulance services, parks and recreation facilities, and garbage collection. Counties also generate non-tax revenues from interest earnings, fines, forfeitures and court fees.