There has not been an increase in ad valorem taxes but Tallapoosa County is expecting to haul in more than $1 million in additional property tax revenue according to Tallapoosa County Revenue Commissioner Eva Middlebrooks.
“The county is expected to take in an increase of $1,220,025 over 2018 ,” Middlebrooks said. “It will be higher than that as SL Alabama just completed its audit and it will be added before Oct. 1.”
Middlebrooks said there are 217 new parcels, one new commercial property and 131 new homes on the tax roll. Home construction especially on the waterfront of Lake Martin led to the increase, she said
“The new home construction appraised at more than $35 million,” Middlebrooks said. “This counts parcels and construction between Oct. 1, 2017 and Sept. 30, 2018. It also counts the Dollar General on County Road 34.”
Middlebrooks puts the total assessed value of property in Tallapoosa county at $872,702,460 with a net ad valorem tax to be collected by the revenue commissioner’s office at $24,278,615.17.
Middlebrooks also attributes a large portion of the increase in ad valorem collection to the recent pipeline project.
“Sabal Trail had an increase of about $400,000,” Middlebrooks said. “Because they are a public utility, part of their taxes are based on income.”
The revenue commissioner’s office collects property taxes for more than just the county.
“We collect for the state, the school and municipalities in Tallapoosa County,” Middlebrooks said. “We will start collecting a 5-mil ad valorem tax for Jacksons Gap. It should be $16,645.”
Middlebrooks said her office will also collect $4.5 million for the state, $6.14 million for the county, $11.16 million for Alexander City, Tallapoosa County and Tallassee schools and $1.6 million for the municipalities in Tallapoosa County.
“The county will see an increase of about $331,000,” Middlebrooks said.
Things are looking good for another increase in ad valorem collection in 2020.
“We have already appraised 75 new residential constructions that are at least 99% complete and another 50 to 75 building permits have been issued. Waterfront construction on Lake Martin is accounting for about 85 to 90% of the new construction.”
Middlebrooks said she was surprised at her initial calculations.
“I went back and double checked them,” Middlebrooks said. “When you see a change like that you want to make sure.”
Middlebrooks said Tallapoosa County administrator Blake Beck already has the numbers to help with the county’s budgeting process for fiscal year 2020.
Notices will be mailed out to 27,000 property owners with 38,000 parcels Oct. 1.
“Ad valorem taxes can be paid without penalty until Dec. 31,” Middlebrooks said. “After that there is a $5 late fee plus 12% per year interest.”