On Aug. 3, St. Johns County Commissioners unanimously set the proposed tax rate for FY 2022 at $6.8147 per $1,000 of taxable value. This represents a marginal increase over this year’s rate of $6.813.
The proposed rate is not necessarily the final rate. However, once set, the county cannot reasonably increase it. The rate can, however, be reduced during one of the two public hearings to be held in September.
Because the county has seen a 9.27% increase in property values since last year, the county can expect to see a $19 million increase in tax revenue next year. These increases have helped moderate the need for any tax increases.
The total budget is $1.1 billion.
This year’s rolled-back rate is $6.53. The rolled-back rate is the rate that would generate the same revenue as last year, dollar-for-dollar.
Under the proposed rate, the owner of a $400,000 home with a homestead exemption could expect a tax bill of about $2,400.
The board also set the time and date of the first public hearing. It will be held at 5:01 p.m. Sept. 7.
