The City Council of Atlanta, Georgia today announces their intention to increase the property taxes it will levy this year by forty-two percent over the rollback millage rate.
Each year, the Fulton County and DeKalb County Tax Assessors are 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 a reassessment.
When the total digest of taxable property is prepared, Georgia law requires that a rollback millage 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 reassessment occurred.
The budget tentatively adopted by the Atlanta City Council requires that a millage rate higher than the rollback millage rate, therefore, before the Atlanta City Council may finalize the tentative budget and set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.
All concern citizens are invited to the public hearings on this tax increase to be held at the Atlanta City Hall Complex, 55 Trinity Avenue, Atlanta, Georgia on Thursday, June 4, 2009 at 9:00 AM and Thursday, June 11, 2009 at 9:00 AM and 6:00 PM.
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For more information about this and services of the City of Atlanta visit our website at www.atlantaga.gov or watch City Channel 26