Because of the variation in property values which produce the tax digest and the estimated SPLOST collections, it’s difficult to project the millage rate impact. However, a high-level estimate is shown below for illustrative purposes.
SPLOST Collections Estimate (6 years) $250,000,000
County SPLOST Allocation (66.65%) $166,625,000
Estimated Annual SPLOST collection $27,770,833
2022 County M&O millage rate 5.28 mills (0.00528)
2022 Total Property Tax Revenues $41,151,487
Weighted Value of 1 mill of tax $4,440,465
Based on the values shown above, it would be necessary to increase the millage rate by approximately 6.25 mills to generate $27,770,833 per year to fund the SPLOST capital outlay projects. This estimate contains many assumptions.