GAINESVILLE - The Gainesville City Council Tuesday morning announced its intention to move forward with the increase in property taxes it will levy this year by 9.32% 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 increase the assessment. This is called a reassessment. Contrary to normal trends for our community, for tax year 2010, there is a decrease in fair market values of properties.
"We just want the general public to know there's been no change in the increase that was proposed a few weeks ago that's already been reported on... and that's a .26 increase in the millage rate," said Gainesville City spokeswoman Catiel Felts.
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 yearâ
Wednesday
October 9th, 2024
8:21AM
