The City of Cartersville today announces its intention to increase the property taxes it will levy this year by 4.49 percent over the rollback millage rate.
For a home with a fair market value of $125,000, the property tax would increase by $6.25.
Each year, the board of tax assessors is required to review the assessed value for property tax purposes of taxable property in the county. The trend of prices on properties that have recently sold in the county indicates an increase in the fair market value of any specific property. Law requires the board of tax assessors to re-determine the value of such property and adjust the assessment.
Georgia law requires that the board compute a rollback millage rate producing the same revenue on this year’s digest that last year’s rate would have paid without reassessments.
The budget adopted by the Cartersville City Council requires that a millage rate be higher than the rollback millage rate. Before setting a final millage rate, Georgia law requires the city council to hold three public hearings to allow the public an opportunity to express their opinions on the increase.
The council invites all concerned citizens to the public hearings on this tax increase at the City Council Chambers located on the third floor of City Hall at 10 North Public Square on Thursday, August 12th at 5:00 PM and on Thursday, August 19th at 8:00 AM and 7:00 PM.