The dates for the first meeting were changed to Monday, July 30, 2018. There are no meetings today! We apologize for not giving the updated information. However, there is still one more public hearing on at 5 p.m. on Tuesday, Aug. 7, 2018, prior to the regular August BOC Meeting.
Although there is no change in the millage rate for Walton County residents again this year, property owners will still by paying an average of 2.68 percent over the rollback millage rate for the Incorporated Cities of Loganville, Monroe, Social Circle, the Unincorporated County and the Cities of Jersey, Walnut Grove, Good Hope, and Between. This is due to the increase in property values.
According to Walton County Commission Chairman Kevin Little, the millage rate will be the same as last year at 10.905 mills.
“But we still have to advertise a tax increase because of property values going up,” Little said. “Georgia law requires you to advertise the rollback rate. But we’re leaving the millage rate the same as last year.”
An increase in the millage rate looked like it was on the cards, but Little said the recent payout as a result of Facebook’s decision to locate its new data center in Stanton Springs helped negate the necessity to do so.
“The reason we didn’t have to go up on the millage rate was revenues came in a little higher than expected. We are not having to take money from the fund balance by keeping the millage rate the same due to the money from Facebook,” Little said, adding that Walton County’s share of the distribution was $937,500. “This was on property sale so it did not have to be shared with the Board of Education.”
However, since it still is considered an increase in taxes due to the reassessed value of most of the properties in the County and its cities, the Walton County Board of Commissioners was required by law to announce its intention to increase the 2018 property taxes it will levy this year.
“Each year, the board of 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,” the BOC announced in the press release. 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 has no reassessments occurred.
The budget adopted by the Walton County Board of Commissioners requires that a millage rate higher than the rollback millage rate, therefore, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.
The third and final meeting will be at 5 p.m. on Tuesday, Aug. 7, prior to the August BOC regular meeting. The public is invited.