Coweta County Schools set Public Hearings for Proposed Tax Increase; Millage Rate to stay same
From Coweta County Schools Press Release
The Coweta County School System Board of Education today announces its intention to keep the millage rate for maintenance and operations at 18.59 mills, where it has been since 2004.
By maintaining the current 18.59 mills, the Coweta County School System Board of Education will increase the property taxes it will levy this year by 0.46 percent over the rollback millage rate. This tentative increase will result in a millage rate of 18.59 mills, and increase of 0.09 mills. Without this tentative tax increase, the millage rate will be no more than 18.50 mills. The proposed tax increase for a home with a fair market value of $200,000 is approximately $7.02 and the proposed tax increase for non-homestead property with a fair market value of $200,000 is approximately $7.20.
Georgia Law requires that three public hearings 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 Board of Education Office, 237 Jackson Street, Newnan, Georgia on August 1, 2019 at 7:30 a.m. and 6:30 p.m. and on August 8, 2019 at 6:30 p.m.
The school system first set its current rate of 18.59 mills for property taxes in 2004 (for the school system’s 2005 fiscal year). It has maintained that rate every year since that time, and is also free of debt. For more information on the Coweta County School System’s FY 2020 budget and the school system’s budget and millage rate history, visit: https://www.cowetaschools.net/budget-financial-and-splost-information-d552ca8e.
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 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 increase 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.