Announcing a Proposed Property Tax Increase for Atlanta Residents

The Council Members of the City of Atlanta have tentatively adopted a millage rate which will require an increase in property taxes by 19.97 percent 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. This is
called 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 Members of the City of Atlanta requires that a millage rate higher than the rollback millage rate, therefore, before the Council Members of the City of Atlanta 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.

All concerned citizens are invited to the public hearings on this tax increase to be held in the City Council Chambers, 55 Trinity Avenue S.W., Atlanta, GA 30303 on June 16, 2008 at 6:00pm and on June 23, 2008 at 12:00pm and 6:00pm.