Thursday, August 13, 2009

Early Co. Commissioners planning to increase Property Taxes

The Early County Board of Commissioners is planning to increase property taxes in the unincorporated area by 10.96 percent and by 9.15 percent in the incorporated areas over the rollback millage rate.

Each year, the board of tax assessors is required to review assessed values of taxable property. When the trend of prices on properties indicate an increase in fair market value of any specific property, the board of tax assessors is required by law to redetermine the value.

When the digest is prepared, Georgia Law requires a rollback millage rate that will produce the same revenue on the current year's new digest that last year's millage rate would have produced had no reassessments occurred.

The budget adopted by the Board of Commissioners requires a millage rate higher than the rollback millage rate.

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