Sandy Springs is proposing a property tax increase for next year and will hold public hearings on the plan in August.
According to the city, new buildings and improvements on existing structures in the city have increased the value of local property. Based on those higher assessments, Sandy Springs property taxes will increase by less than one percent, a statement said.
The city has not changed its property tax rate since it was incorporated in 2005.
The property tax increase of 0.64% was determined by the Fulton County Board of Tax Assessors, which saw higher fair market values on properties sold, according to a Sandy Springs statement.
Tax bills paid by homeowners are a combination of city, county and school taxes. Municipalities set their own tax rates on top of the county’s in order to pay for services provided by each city.
Residents’ tax bills reflect taxes levied on the assessed value of their property and could be reduced by a homestead tax exemption, the amount removed from the assessed value of a home, or other exemptions.
Sandy Springs estimates that property with a fair market value of $300,000 and a homestead exemption would see a tax increase of about $1.35 under the proposal. For property of the same value without a homestead exemption, the tax increase would be $5.40.
Residents can comment on the increase in property taxes during three public hearings by teleconference in August. They will be held at 7:30 a.m., Aug. 4; 6 p.m., Aug. 4 and 4 p.m. Aug. 11. To join the teleconference: http://spr.gs/spe8112020
