On Thursday, homeowners in Collier County were pleased to learn that the commissioners agreed not to increase property taxes.
However, the tax bill does have a chance to increase because housing prices are on the rise.
“Property values have increased some and that has helped the revenue from the county’s perspective,” explained Andy Solis, Collier County Commissioner.
The property tax is calculated by multiplying the taxable value on the millage rate. Initially, the commissioners considered lowering the rate but decided not to.
Your millage rate varies if you live in an Incorporated or Unincorporated city. The millage rate is generally translated as a rate per $1000 of taxable value. Collier County Commissioners and other governmental agencies are the ones who determine the millage rate.
Collier County’s tax website provided the following calculation as an example:
If the millage rate is 9.00 (.009 x $1000) a taxable amount of $10,000 would equal $90 in taxes. A mill is one-tenth of one percent.
The current millage rate for Incorporated cities in Collier County is 3.56. The Unincorporated areas millage rate is .8069 millage.
As a reminder, property taxes are due November 1st and tax notices will be mailed out to the last reported address on Oct. 31 of the tax year. You have at least five months to pay before it becomes delinquent.