MADISON AND RIDGELAND both saw a decrease this year in personal property, but the cities’ overall assessed values still grew, and their budgets aren’t hurting much either.
“We haven’t raised our millage at all in the last 20 years, probably,” said Ridgeland Mayor Gene McGee.
“[Personal property is] not a large part of our budget anyway. Sales tax is our main revenue.”
Also known as Class III property, personal property includes business inventory, furniture and fixtures, and heavy equipment and machinery.