Sports News

2009-10-14 / Local News

Taxes on homes will decrease

By LARRY HILLIARD Ledger Staff Writer larry@gaffneyledger.com

County homeowners will see a slight drop in their property taxes thanks to the recently enacted penny sales tax.

According to the sales tax legislation, 71 percent of the money generated — about $1.7 million over a 12-month span — will go to property tax relief for county homeowners. So, owners of homes valued at $100,000 will save $67.10 on their tax bills, according to information provided by Cherokee County Auditor Merv Bishop.

That figure would double for an owner of a home valued at $200,000.

Gaffney and Blacksburg homeowners will see an even bigger savings.

In addition to the savings on county property taxes, Blacksburg residents who live in a $100,000 home will see a savings of $143, while owners of a $100,000 home in Gaffney would see a $141 decrease in their property taxes.

City and county officials are expected to mail out their property tax bills later this month.

Voters here overwhelmingly approved the local option sales tax in November. Officials began collecting the tax in May.

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