Canton Announces Proposed Property Tax Increase

CANTON, GA — The city of Canton is notifying the public that its elected officials could increase the property taxes it will levy this year by 2.70 percent over the rollback millage rate.

The budget tentatively prepared by Canton City Council requires that a millage rate higher than the rollback millage rate. Before the City Council can 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.

This tentative increase will result in a millage rate of 5.400 mills, an increase of 0.142 mills. Without this tentative tax increase, the millage rate will be no more than 5.258 mills. he proposed tax increase for a home with a fair market value of $200,000 is about $11.36, and the proposed tax increase for non-homestead property with a fair market value of $200,000 also rounds out to be roughly $11.36, the city of Canton said.

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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 city shows there's 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.

Canton residents are invited to attend the public hearings to weigh in on the tax increase. The hearings will be held at 11 a.m. and 6 p.m. July 19 and 2 p.m. July 26 at Canton City Hall at 151 Elizabeth Street.

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