Rincon City Council members approved a millage rate of 0 for city property owners.
Council members approved the measure with a 5-0 vote at their July 27 meeting.
Rincon’s property tax digest has rebounded the last two years. The gross digest — which includes the worth of real and personal property, mobile homes, timber and motor vehicles — was $267 million in 2010 but it fell to $226 million in 2013. The gross digest was $240 million for 2010.
Based on the digest, the gross millage rate would have been 6.41 for the city. But council members have not levied a millage for more than a decade, using proceeds from the local option sales tax.
“We roll back with LOST so there is net zero tax to the citizens,” said City Manager Wesley Corbitt. “We used prior year’s sales tax as an estimate for this year’s sales tax.”
The millage rate ordinarily is approved in December, and Corbitt said this millage rate is in conjunction with the existing fiscal year 2015 budget.
Council members also were presented with the city’s audit, conducted by the accounting firm of Caines and Hodges. Donald Caines told council members there was no difficulty in performing the audit.
“There were no material weaknesses and no significant deficiencies this year,” he said.
Caines told council members there were a few misstatements dealing with fixed assets, but those are not material problems.
“We don’t adjust for them. We just bring them to management’s attention,” he said.
Caines said the city still has interfund balances for Lost Plantation Golf Course but that there is a plan to pay that back over time.