Because of increased property values, taxpayers will see slight increase —
The Tyrone Town Council will keep the property tax rate at 2.889 mills for 2020, though that rate will amount to a property tax increase totaling $80,781, or 6.23 percent.
The council will conduct three public hearings on the tax increase, with the final hearing and adoption coming on Aug. 26.
During budget preparation, the Town of Tyrone 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 2.811 mills, said Town Clerk Dee Baker.
“Georgia Law requires that a government rollback their millage rate to a number of mills that will produce the same number of dollars in property tax revenue from the prior year,” Baker said. “The town’s millage has been at this rate for over 12 years, despite vast fluctuations in economic factors; many years of which resulted in declining revenue. The proposed increase in property tax revenue, year over year, amounts to $80,781 or 6.23 percent. The total number of dollars anticipated to be collected in property tax for 2020 is $1,377,337.”
Three public hearings on the millage rate are required. One of those was at 9 a.m. on Aug. 19. The second will be held on Aug. 20 at 6:30 p.m. and the final meeting on Aug. 26 at 9 a.m. Adoption on the millage will come at a special called meeting on Aug. 26 at 4 p.m.
All meetings will be held at Town Hall, located at 881 Senoia Road.