The city of Sandy Springs will hold three public hearings on the millage rate starting July 16.
The hearings have been set for July 16 at 6 p.m. and Aug. 6 at 7:30 a.m. and 6 p.m. at City Hall in the Council Chambers, 1 Galambos Way. In announcing the public hearing date, the City Council announces its intention to increase the property taxes it will levy this year by 3.05% over the rollback millage rate.
While Sandy Springs’ millage rate is set at 4.731 in the City Charter and has not changed since incorporation, the city is required to advertise it as a property tax increase because the rate would produce more revenue than last year.
Each year, the 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 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 tentatively adopted by the Sandy Springs Mayor and City Council requires a millage rate higher than the rollback millage rate. Before Sandy Springs 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.