Although the millage rate is expected to remain the same at 10.905 mills, Walton County will not be adopting the rollback millage rate, therefore, Walton County is announcing a tax increase this year. With the property market considered pretty hot right now, the trend in Walton County has been an increase in the fair market value of local properties. The law requires the board of tax assessors to re-determine the value of the properties and adjust the assessment.
“The result of this will be a property tax increase of 2.17 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,” the Walton County Board of Commissioners wrote in a press release release. “When the total digest of taxable property is prepared, Georgia 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.”
Since the budget adopted by the Walton County Board of Commissioners requires a rate higher than the rollback millage rate, this millage rate has to be considered a tax increase. Therefore, three public hearings are required for residents to voice their opinions. These are scheduled for 11 a.m. and 5:30 p.m. on Aug. 6 and 6 p.m. on Aug. 13, 2019.