County sees 2.8 percent growth in '12
Wednesday, July 3, 2013 1:00 PM
Madison County District 2 Supervisor Ronny Lott said recent growth of assessed values is another reason why the county shouldn't have raised taxes this year.
"I think that it's wonderful that the county is growing," Lott said. "We all knew it was growing but you know 1 percent in a recessed market would be the norm and we are way above that with the 2.8 percent. I hate the fact that taxes were raised but it is exciting to see growth in the county."
In September 2012, Madison County supervisors voted 3-2 to raise taxes by 1.3 mills for solid waste, .7 mills for certain residents for fire protection, and .5 mills for the general fund from all residents.
Madison County Tax Assessor Gerald Barber said the roll for 2013 reflects a positive change in the economy as it has increased a total growth of 2.8 percent. Last year there was a 1 percent increase.
"We were happy to squeeze out 1 percent last year and we're really happy to see the 2.8 percent this year," Barber said. "I think it's due to cheap money and low interest rates being available for a long-term. We're seeing people build some really substantial commercial buildings that are 50-100 year lifespans and I just think it's been a loosening up overall."
Real Property value for 2013 has seen a 2.2 percent increase from last year while personal property has increased 2.4 percent. Another significant increase was seen in the amount of new car tags sold. According to Barber, the 4.5 percent increase in tag sales is about $8 million in assessed value.
"When you really start looking at those people buying car tags and the new cars it tells you...(people) are loosening up the money and people are buying vehicles."
District 3 Supervisor and Board President Gerald Steen said that he is excited to see the progressive growth of the county and feels that positive change in the area will continue to stay on track.
"It's very encouraging to see us up 2.8 percent and we look forward to seeing more growth in the county," Steen said. "We are very fortunate here in Madison County to have that growth and it means that we are doing a lot of things well and we want to continue doing well."