Home arrow NewsBreak arrow Lyons Plans Property Tax Increase
Lyons Plans Property Tax Increase
Wednesday, 02 October 2013

October 2--  The City of Lyons today announces its intention to increase the property taxes it will levy this year by .06 percent over the rollback millage rate.

This tentative increase will result in a millage rate of 2.89 mills, an increase of 0 (Zero) mills. Without this tentative tax increase, the millage rate will be no more than 2.83 mills. The proposed tax increase for a home with a fair market value of $100,000 is approximately $2.40.

Mayor Willis NeSmith says the increase will generate $12,881 for the city.

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 adjust 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.

The budget tentatively adopted by the City of Lyons requires a millage rate higher than the rollback millage rate; therefore, before the City of Lyons 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.

Public hearings will be held at the Lyons City Hall October 10 at 12 p.m., October 15 at 7 p.m., and October 17 at 12 p.m. in conjunction with a called meeting of the city council.

< Prev   Next >

Copyright © 2014 Southeast Georgia Today Web Portal
This Site is Best Viewed with Screen Resolution of 1024 X 768 Pixels
Website Design & Hosting by Red Wheeler Associates, LLC