The Hall County Board of Education Thursday announced plans to increase the property taxes it will levy to fund the new budget by 4.41 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.," according to a school board news release.
Further "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 2019 is 17.049 mills. The school board is proposing a rate of 17.80 mills which is an increase of 0.751 mills. The current mill rate is 18.20 mills. Whether the taxes of an individual property increases or decreases depends on the amount of reassessment, if any, that property receives.
The hearings on the budget and proposed tax rate will be held at county school board offices on Green Street June 10 at 6:00 p.m. and June 24 at 11:30 a.m. and 6:00 p.m.