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NOTICE OF PROPERTY TAX INCREASE
The Hall County Board of Commissioners passed a motion Monday to consider leaving the current millage rate of 5.989 unchanged, which would increase the property taxes it levies by 4.43 percent.
All concerned citizens are invited to the three public hearings on this matter to be held in the Commission Meeting Room on the 2nd Floor of the Hall County Government Center, 2875 Browns Bridge Rd, Gainesville at the following times:
Hearing 1: Thursday, June 18, 2015, at 11:30 a.m.
Hearing 2: Monday, June 22, 2015 at 4:00 p.m.
Hearing 3: Thursday, June 25, 2015 at 6:00 p.m.
EXPLANATION OF PROPOSED PROPERTY TAX INCREASEHALL COUNTY, GEORGIA
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 trends 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 considered for adoption by the Hall County Board of Commissioners contemplates a millage rate higher than the rollback millage rate, therefore, before the Hall County Board of Commissioners may finalize the 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.