Three public hearings scheduled for proposed tax increase – The Donalsonville News
The Seminole County Council of Commissioners today announced plans to increase property taxes for 2021 that it will levy this year by 0.57% over the rate of decline in mileage.
The Seminole and Donalsonville County Industrial Development Authority has tentatively adopted a mileage rate that will require a 0.40% property tax increase.
The Seminole County School Board and Seminole County Public Library are not asking for a tax increase. The Board of Education has tentatively adopted a mileage rate that will accept the dismantling rate of 15.945, and the public library has tentatively adopted a mileage rate that will reduce the dismantling rate from 0.761 to 0.758. That’s 0.03 less than the allowed cancellation rate.
All affected citizens are invited to the three Council of Commissioners and Development Authority public hearings on this tax increase to be held at the Seminole County Courthouse, Upper Courtroom, 200 S. Knox Avenue , Donalsonville, GA October 14 at 11:00 a.m. and 6 p.m., and October 21 at 6 p.m.
Since the Board of Education and the Seminole County Public Library are not asking for a tax increase, no tax hearing is required. The final adoption will be made for the school board and library on Monday, October 18 at 7 p.m. at the Seminole County School Board located at 203 East Sixth Street in Donalsonville.
The increase proposed by the Council of Commissioners will result in a mile rate of 16.130 thousandths, or an increase of 0.091 thousandths. Without this temporary increase, the mileage rate will not exceed 16,039 mills. The proposed tax increase for a house with a fair market value of $ 100,000 is approximately $ 3.46, and the proposed tax increase for a non-residential property with a fair market value of $ 300. $ 000 is approximately $ 10.92.
The increase proposed by the Development Authority will result in a mileage rate of 0.250 mills, an increase of 0.001 mills. Without this temporary increase, the mileage rate will not exceed 0.249 thousandths.
The proposed tax increase for a house with a fair market value of $ 100,000 is approximately $ 0.04, and the proposed tax increase for a non-residential property with a fair market value of $ 300. $ 000 is approximately $ 0.12.
Each year, the Council of Tax Commissioners is required to examine the value for property tax purposes of the assessed value property in the county.
When the price trend of recently sold properties in the county indicates that there has been an increase in the fair market value of a particular asset, the board of appraisers is required by law to redefine the value of that asset and adjust the appraisal. This is called a reassessment.
When the total taxable property summary is prepared, Georgian law requires that a dismantling mileage rate be calculated that will produce the same total income on the current year summary as last year’s mileage rate would have. produced if no reassessment had taken place.
Budgets provisionally adopted by the Seminole County Council of Commissioners and Development Authority require a mileage rate greater than the rollback mileage rate; therefore, before the commissioners and the development authority can finalize their provisional budgets and set final mileage rates, Georgian law requires three public hearings to allow the public to express its opinion on the increase.