The Atlanta Board of Education will hold three virtual hearings on its proposed millage rates for the fiscal year 2021 budget on Aug. 10 and 17.
The rate determines the property tax revenue for the Atlanta Public Schools budget. The school board proposes maintaining the current millage rate of 20.740.
The hearings will be held Aug. 10 at 10 a.m. and 6 p.m., and Aug. 17 at 9 a.m. All of the hearings will be broadcast on the school board’s Facebook page at facebook.com/apsboard. To sign up for public comments, click here.
People also can dial in by phone at 1-312-626-6799 and using the following Webinar IDs: Aug. 10, 10 a.m. hearing: 854 7559 3604; Aug. 10, 6 p.m. hearing: 868 5817 6796; Aug. 17 hearing: 835 0726 4433.
The millage rate is the amount of taxes paid per $1,000 of a property’s value. If the school board maintains the current millage rate, that means an increase in the taxes a property owner pays because of the increase in property values in the most recent assessment. In a press release, APS explained the process and the effect of the millage rate as follows:
“Each year, the board of tax assessors is required to review the assessed value of taxable property in the county, for property tax purposes. 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.
“Georgia law requires that a ‘rollback millage rate’ be computed to produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred. Using this required calculation, ABOE has announced its intention to increase the 2020 property taxes it will levy this year by 1.13% over the rollback millage rate.
“The district intends to maintain the current 20.740 millage rate. As a reminder, the district rolled back 1.0 mill in 2018 from 21.740 to 20.740. To fully offset the increase in the digest would require a rollback of the millage rate from 20.740 to 20.509 mills. With no rollback, the proposed tax increase for a homesteaded property with fair market value of $300,000 is approximately $30.”