Duluth will hold the second of three public hearings to discuss the proposed 2016 property tax millage rate and related redevelopment activities 7 p.m. Tuesday in the Community Room of City Hall, 3167 Main St.
Each year, the board of tax assessors is required to review the assessed value of taxable property in the county for property tax purposes. When 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 increase the assessment.
When the total digest of taxable property is prepared, Georgia law requires a rollback millage rate must be computed to produce the same total revenue on the current year’s new digest as last year’s millage rate, had no reassessments occurred.
Duluth’s tentatively adopted FY17 budget requires a millage rate higher than the rollback millage rate.
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