Public Hearing on Millage Rate
- Date: 08/21/2018 7:30 am
- Location: Sandy Springs City Hall
1 Galambos Way
Sandy Springs, Georgia 30328
The City of Sandy Springs today announced that it would hold a public hearing on next year’s millage rate on Tuesday, July 17 and on Tuesday, August 7, 2018 at City Hall, Council Chambers, located at 1 Galambos Way, Sandy Springs, Ga. 30328. In announcing the public hearing date, the City Council announces its intention to increase the property taxes it will levy this year by 6.29 percent over the rollback millage rate.
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 indicates 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 City of Sandy Springs Mayor and City Council requires a millage rate higher than the rollback millage rate; therefore, before the City of Sandy Springs 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. The City’s millage rate of 4.731 is set in the City’s Charter and has not changed since incorporation.
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