Jonesboro residents can expect to pay a bit more in property taxes next year, following a decision made by the Jonesboro City Council at their meeting on Monday, August 25th. The council voted to increase the property tax rate from the current 8.5 mills to 9 mills. This increase, though seemingly small, will have an impact on the amount homeowners and property owners will owe in city taxes.

A mill is equal to one-tenth of one percent, or $1 per $1,000 of assessed property value. Therefore, the 0.5 mill increase means that for every $1,000 of assessed property value, residents will now pay an additional 50 cents in property taxes to the city.

While the city council has approved this change, details on the reasons behind the tax increase were not immediately available. It is anticipated that further information explaining the need for the additional revenue will be released in the coming weeks. Residents are encouraged to attend future city council meetings or check the city's official website for updates and explanations regarding the budget and how these tax dollars will be utilized.

The impact of this change will vary depending on the assessed value of individual properties. For example, a home assessed at $100,000 will see an increase of $50 in their annual city property tax bill. While this may not seem like a significant amount to some, for many families in Jonesboro, every dollar counts.

The new tax rate is expected to go into effect for the next tax year. Property owners will see the increase reflected in their property tax bills when they are issued. This decision is sure to spark discussions within the community, and the City Council is likely to face questions from residents about the necessity and impact of the increase. It remains to be seen how the city plans to allocate the additional revenue generated by this property tax adjustment.