Tax assessment will remain at 4.75 mills
The New Albany Community Authority property-tax assessment will remain at 4.75 mills for at least one more year.
The community authority board on Aug. 30 voted 5-0 in favor of keeping the millage the same as it has been for the past 10 years. R. Keith Morris and Bill Ebbing were absent from the vote.
According to the community authority's website, the millage assessment changes with new construction but it has been offset by property values, which have decreased overall.
Figures provided to the community authority board show the assessment district's residential value increased $22.5 million with new construction but the district's commercial value decreased by $41 million. The increase in residential value from new construction was offset by decreasing property values in the Albany Park, Asbury Ridge, Hampsted Village and the Preserve subdivisions.
The community authority collects an assessment on properties in the New Albany Country Club community. The funds help pay down debt incurred in the late 1990s to build Fodor Road, improve the Plain Township Fire Station and build parts of New Albany High School.