Villa Rica: Proposed Property Tax Increase

The City of Villa Rica today announces its intention to increase the 2017 property taxes it will levy this year by 2.12 percentage over the rollback millage rate.
Each year, the county board of tax assessors is required to review the assessed value for property tax purposes of taxable property in each respective 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-distribute 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 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 2017 budget adopted by the Villa Rica City Council requires that a millage rate higher than the rollback millage rate, therefore, before the City of Villa Rica 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.
All concerned citizens are invited to the public hearings on this tax increase to be held in the Villa Rica Municipal Courtroom, 101 Main Street, Villa Rica, Georgia on Tuesday, August 1, 2017 at 10:00 am and 5:30 pm and on Thursday, August 24, 2017 at 6:00 pm.