Newnan officials have announced the city’s intention to increase the 2016 property taxes it will levy this year by 4.38 percent over the rollback millage rate. Due to adjustments in the digest, the rollback rate would have produced less tax levy than the prior year.
Each year the board of tax assessors is required to review the assessed value for property tax purposes of taxable property in the county. When the trend of prices on properties that have recently sold in the county indicate there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to re-determine the value of such property and adjust the assessment. This is called reassessment.
When the total digest of taxable property is prepared, Georgia law requires that a rollback rate must be computed that will produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred.
The budget adopted by the Newnan City Council requires a millage rate higher than the rollback millage rate. Therefore, before the council sets a final millage rate for 2016, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.
All concerned citizens are invited to the public hearings on this tax increase to be held at City Hall, 25 LaGrange Street. Scheduled dates and times are Tuesday, Aug. 2, at 11:55 a.m. and 6:05 p.m. as well as Tuesday, Aug. 9, at 2:30 p.m.
