An anticipated drop as a result of the annual appeals process is not expected to impact the city of Woodstock's plans to hold its millage rate at the current level.
The Woodstock City Council on Monday held a public hearing on setting its 2013 millage rate, which is currently at 7.889 mills.
Chief Financial Officer Robert Porche noted the city has lost about $5 million in assessed value of its 2013 digest, which he does not expect to impact the council's decision to leave the rate in place.
"The drop was anticipated based on last year’s fluctuation during the appeals process," he added on Wednesday.
Porche said the drop will continue as the Cherokee County Tax Assessor's Office moves forward with the remaining 250 properties that are appealing their assessed value.
He noted he expects the digest to drop another .3 percent to .5 percent once the process is complete.
If the rate holds at 7.889 mills, a homeowner whose house is valued at $160,000, with the standard $5,000 exemption, would pay around $482 in city property taxes.
The rate will be adopted during the council's second meeting in August, which will be at 7 p.m. Aug. 26.
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