The Fayetteville City Council today announces its intention to increase the 2019 property taxes it will levy by 4.23 percentage over the rollback millage rate.
Each year, the board of 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 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 budget tentatively adopted by the Fayetteville City Council requires that a millage rate higher than the rollback millage rate, therefore, before the Fayetteville City Council may finalize the tentative budget and 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.
All concerned citizens are invited to the public hearings on this tax increase to be held at City Hall, 240 South Glynn Street, Fayetteville, Georgia on August 15, 2019 at 8 a.m. AND 6 p.m., and on August 29, 2019 at 6 p.m.
NOTICE OF PROPERTY TAX INCREASE
The City of Fayetteville has tentatively adopted a millage rate which will require an increase in property taxes by 4.23% percent.
All concerned citizens are invited to the public hearing on this tax increase to be held at Fayetteville City Hall 240 South Glynn Street, Fayetteville, Georgia on August 15, 2019 at 8:00 AM and 6:00 PM.
Times and places of additional public hearings on this tax increase are at Fayetteville City Hall 240 South Glynn Street, Fayetteville, Georgia on August 29 2019 at 6:00 PM.
The tentative increase will result in a millage rate of 5.646 mills an increase of .229 mils. Without the tentative tax increase, the millage rate will be no more than 5.417 mills. The property tax increase for a home with a fair market value of $200,000 is approximately $18.32 and the proposed tax increase for non-homestead property with a fair market value of $400,000 is approximately $36.64