Notice of Proposed Property Tax Increase
By Public Information & Marketing Coordinator
The Rome City Commission announces its intention to hold a Public Hearing at a called City Commission meeting on Thursday, July 23 at 11:00 a.m. in the Sam King Room at City Hall concerning the proposed 2015 millage tax rate.
The proposed combined rates for the city government and city schools of 26.136 will result in a .05% decrease from the prior year and a .7% increase over the calculated rollback rate of 25.95. The estimated city and city school tax for a current $100,000 market valued home would have been $1,046 in 2014. At the proposed rate for 2015, the estimated tax will be $1,045 and at the 2015 roll back rate, the estimated tax would be $1,038.
Each year, the Board of Tax Assessors is required to review the assessed value for property tax purposes of taxable property in the city. 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 Georgia law to re-determine the value of such property and increase the assessment, also known as 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 new digest that last year’s millage rate would have produced had no reassessments occurred.
The budget adopted by the City of Rome requires a millage rate higher than the rollback millage rate. Therefore, before the Rome City Commission may set a final millage rate, Georgia Law requires that three public hearings be held to allow the public an opportunity to express their opinions on this increase.
All concerned citizens are invited to attend the second public hearing on July 23. An additional final public hearing will be held Monday, July 27 at 6:30 p.m. in the Sam King room at City Hall.
For questions related to the public hearing, please contact Sheree Shore, City of Rome Finance Director at 706-236-4420.