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Houghton County will be receiving additional tax revenue following a Truth in Taxation hearing prior to the regular monthly meeting of the County Board of Commissioners.
Equalization Department Director John Partanen reported that the net taxable value for Houghton County for the year has increased by about $12 million.
The board considered two millage options–one was to keep the rate at 6.3 mils which would bring in an additional $66,889 due to the increase in value.
The other option was to reduce the millage rate to 6.2215 mils but that would only save a county resident with a home valued at $100,000 about $3.00 a year.
The board chose the first option which results in a 1.26 percent increase in the operating millage but does not actually raise taxes.
The additional revenue comes from the increased value from new sales and construction.
