The Hall County Board of Education Friday announced its intention to increase the property taxes it will levy this year by 1.08 percentage 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 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.
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 rollback rate for this year is 18.599 mills, according to a press release from the Hall County School System. The Board of Education is proposing a rate of 18.80 mills which is an increase of .201 mills. The current millage rate is 18.80 mills.
Whether or not the taxes of an individual property increases or decreases depends on the amount of reassessment, if any, that property receives. The budget tentatively adopted by the school board requires a millage rate higher than the rollback millage rate, therefore, before the board may finalize the budget and set a final millage rate, Georgia law requires three public hearings before the board can act.
The board tentatively approved the new budget, which includes an across-the-board pay hike for employees, Monday night. More information about the proposed budget and tax increase and timeline for adopting both is on the Hall County Schools website.
Dates have been set for those hearings, which will take place at the school district offices at 711 Green Street as follows:
June 13, 5:00 p.m.
June 27, 11:30 a.m.
June 27, 6:00 p.m.
