OC sees decline in 2014 Duke Energy Assessment

Oconee County received some bad news late Friday afternoon when the South Carolina Department of Revenue delivered the 2014 Duke Energy Assessment to the Auditor’s office. This year’s total assessment as determined by the Department of Revenue is $118.6 million compared to $132.5 million last year. However, Duke Energy’s tax bill cannot be calculated until the Oconee County Council sets the millage on Sept. 2. Oconee County Auditor Ken Nix used last year’s millage rate as an estimate, saying their taxes will run approximately $24.7 million as compared to $27.4 in 2013. Duke Energy revenue continues to be approximately 25% of the revenue that pays ad-valorem taxes required to fund the county and school operations including debt service.