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County gives notice of property tax increase


 
The Seminole County Board of Commissioners today announces its intention to increase the 2017 property taxes it will levy this year by 7.22 percentage over the rollback millage rate.

All concerned citizens are invited to the public hearings on this tax increase to be held in the Seminole County Courthouse Superior Courtroom located at 200 S. Knox Avenue in Donalsonville, on September 21, at 11 a.m. and  6 p.m. and on September 28, at 6:00 p.m.

Each year, the Board of Tax Assessors is required to review the assessed value for property tax purposes of taxable property in the county. When the trend of prices on properties that have recently sold in the county indicate there has been an increase or decrease 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 adjust the assessment. This is called a reassessment.
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 reassessments occurred.
The tentative amended budget to be adopted by the Seminole County Board of Commissioners requires a millage rate higher than the rollback millage rate; therefore, before the Seminole County Board of Commissioners may set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.
This tentative increase will result in a millage rate of 14.859 mills, an increase of 1.00 mill. Without this tentative tax increase, the millage rate will be no more than 13.859 mills. The proposed tax increase for a home with a fair market value of $100,000 is approximately $38.00 and the proposed tax increase for non-homestead property with a fair market value of $300,000 is approximately $120.00.    

 

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