If you think the price of your car tag is too high, then brace yourself for another increase. On July 1, the Legislative Tax Credit will be reduced, adding about $15.00 to the price of every tag.
That may not be the only increase for tag buyers this year. Car tag costs are affected by tax credits, millage rates and property valuations.
Covington County Tax Assessor-Collector Lynda Gayle McRaney warned Mississippians that if county or school taxes go up, so will the price of tags. When counties raise their millage rate, they apply not only to property, but to tags.
A mill represents $1.00 for every $1,000 assessed valuation and is the unit used to determine the amount of money the county should collect to pay for county and school operations.
State Sen. Tom King, of Petal, said the slow economy is the reason why the tag credit was reduced. He said he believes the credit will be increased when the economy picks up.
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