Some residents in Snellville may pay a higher property tax bill this year, despite the tax rate being decreased.
The culprit? Soaring home values.
City officials released a notice of property tax increase this month despite a reduction in the rate to 4.00 mills from last year’s 4.588, Snellville City Manager Butch Sanders said.
“The only reason there would be an increase in their taxes, since the millage rate went down, is if their reassessment put the value of their house at a higher level,” Sanders said.
It could be an increase of about 5% for some homeowners, the announcement said.
The amount of taxes a property owner pays, is dependent on their individual assessed property value.
Taxes for the average home in the city that costs $314,661, will increase by $26.94, the announcement said. The property tax rates, or “millage,” equals $1 of tax for each $1,000 of assessed property value.
The city held a public hearing on July 11, and will hold two more public hearings at Snellville City Hall on July 25 at 11:30 a.m. and 7 p.m.
In June, the city announced the approval of a balanced budget of $14.69 million, an increase from last year’s budget.
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