Fulton school board schedules millage rate hearings

The Fulton County school board has announced it intends to increase 2015 property taxes it will levy by 5.53 percent over the rollback millage rate.

The rollback rate is the one that would produce the same total revenue as last year’s millage rate if no reassessments had occurred. Georgia law requires a rollback rate to be calculated when property values, and property tax assessments, have risen.

The school budget tentatively adopted requires a millage rate higher than the rollback rate. Before the Fulton school board may finalize the budget and set a millage rate, Georgia law requires three public hearings.