Town’s taxpayers to see a 3.3% increase
Tyrone, as it has for more than 10 years, will maintain a millage rate of 2.889 mills in 2018. Doing so will amount to a 3.3 percent tax increase since the rollback rate would be 2.85 mills.
Town Clerk Dee Baker said that during budget preparation, the town committed to maintaining its Maintenance and Operations (M&O) millage at a rate of 2.889 mills. As was the case last year, the assessed value of the new construction and existing real and personal properties within the town limits have increased and a roll-back millage was calculated at 2.850 mills, she said.
The town’s millage has been at this rate for over ten years, despite vast fluctuations in economic factors, many years of which resulted in declining revenue, Baker said.
The proposed increase in property tax revenue, year over year, amounts to $38,804 or 3.33 percent.
The total number of dollars anticipated to be collected in property tax for 2018 is $1,205,602.
Public hearings on the millage rate will be held on Aug. 8 at 9:30 a.m. and 6:30 p.m. and on Aug. 16 at 6:30 p.m. All hearings will be held at Town Hall, located at 881 Senoia Road.