The Walker County Board of Commissioners will hold three public hearings in August "to provide citizens with a better understanding of a proposed millage rate rollback."
Officials said, "The reduced rate aims to lessen the impact of higher property appraisals. Another year of surging home sales increased property values an average of 30% in Walker County.
"The Board of Commissioners proposes to roll back the millage rate used to calculate property taxes to the lowest point since 2012 to balance taxes associated with higher property values. However, due to another year of substantial growth, the new millage rate will trigger state requirements to advertise a minor property tax increase.
"The proposed millage rate of 5.735 mills in the unincorporated area represents a 16% reduction over 2022 when the rate was 6.8283 mills. Georgia requires advertisement of a property tax increase when the proposed millage rate is higher than the “rollback rate,” a complex state formula used to compute millage based on the value added from reassessments, growth in sales taxes and other revenue. In this instance, the Walker County Board of Commissioners proposes a millage rate 6.22% above the “rollback rate” of 5.399 mills in the unincorporated area. The increase of 0.336 mills will generate an additional $10,537 in property tax revenue over last year."
Public hearings on the millage rate will take place on the following dates/times and locations:
· Thursday, Aug. 10, at 8:00 a.m. - Walker County Civic Center (10052 Hwy 27, Rock Spring)
· Thursday, Aug. 10, at 6:30 p.m. - Walker County Courthouse Annex III (201 S Main St., LaFayette)
· Thursday, Aug. 24, at 7:00 p.m. - Walker County Courthouse Annex III (201 S Main St., LaFayette)
The proposed millage rate for a home with a fair market value of $225,000 would result in a property tax increase of $29.54 in the unincorporated area, which is about $2.46 per month. Owners of that same home living in an incorporated area would save about $157 annually, since the proposed incorporated rate of 7.390 mills is less than last year’s rate of 9.853, it was stated.
The millage rate will be set at the Board of Commissioners regular meeting at 7 p.m. on Aug. 24.