The Fannin County Board of Education issued a press release yesterday regarding a proposed property tax increase.
Please see press release below.July 11, 2013 – Blue Ridge, Georgia – The Fannin County Board of Education today announces its intention to increase the property taxes it will levy this year by 6.36 percent over the rollback millage rate which would be 13.069 mills. This will result in the Fannin County Board of Education millage rate changing from 12.9 mills to 13.9 mills.
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 or decrease 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. For 2013, Fannin County’s tax digest has experienced negative reassessment of existing real property which is the primary factor in determining the annual millage rate rollback amount.
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 Fannin County Board of Education requires a millage rate higher than the rollback millage rate; therefore, before the Fannin County Board of Education 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 at the Fannin County Board of Education, 2290 East First Street, Blue Ridge, GA on July 24, 2013 at 11:30 a.m. and 6:00 p.m. and on July 31, 2013 at 5:30 p.m.