Sandy Springs holding meetings amid plans to raise property taxes
The city of Sandy Springs has announced it plans to increase property taxes and will host three public hearings on the 2020 millage rate before the city council votes on the measure.
The hearings will take place July 16 at 6 p.m. and Aug. 6 at 7:30 a.m. and 6 p.m. at City Hall’s council chambers, located at 1 Galambos Way in Sandy Springs.
In announcing the public hearing dates, the city council states it intends to increase the property taxes it will levy this year by 3.05% over the rollback millage rate. Though the city in June approved its budget for fiscal 2020, its property taxes are levied and collected on a calendar year basis.
Each year, the Fulton County 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 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 council requires a millage rate higher than the rollback millage rate; therefore, before the city 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.
For more information visit www.sandyspringsga.gov.