Even though the millage rate will remain the same, the Powder Springs City Council has adopted a tentative millage rate that will require an increase in property taxes by 6.17 percent over the rollback millage rate.
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.
Also, Georgia law requires that three public hearings be held to allow the public an opportunity to express their opinions regarding the proposed increase.
Three public hearings on this tax increase will be held at noon and 6:30 p.m. July 8 and 6 p.m. July 15 at the Powder Springs City Council Chambers, 4488 Pineview Drive, Powder Springs.
The tentative increase will result in a millage rate of 9.50 mills, an increase of .55 mills, which is the same as last year’s millage rate.
Without this tentative tax increase, the millage rate will be no more than 8.948 mills.
The proposed tax increase for a house with a fair market value of $166,511 is around $36.76; and the proposed tax increase for nonhomestead property with a fair market value of $203,238 is about $44.87.
Information: CityOfPowderSprings.org/CivicAlerts.aspx?AID=722
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