Public Hearings have been scheduled by City Council to seek citizen input into setting of the tax rate for the year 2018.
Under Georgia law, whenever property values in the city as a whole increase, or the tax rate, known as millage rate, increases, the City Council must hold at least three public hearings to explain the property tax change.
The total City budget is $12.8 million for the 2018 fiscal year. A millage rate is being considered that would provide $1.45 million from property taxes. A stable property tax income is necessary in order to continue to provide essential city services such as police, fire, and street maintenance. The balance of revenues comes from local option sales tax, utility fees, permits and licenses.
Mayor and City Council are considering a tax rate of 7.900 mills or $0.007900. This is an increase of 0% from the current rate of $0.00790.
Assessed property values in the city limits of Social Circle increased 2.09% on average this year. The roll back tax rate would be 7.738 mills or $0.007738 which would eliminate the effect of any increase in property value. In addition, property tax revenues will increase due to new construction and industries whose incentive property tax abatement has expired, such that they are paying property taxes on more of the value of their property.
The millage rate is applied to 40% of the assessed value of the property. For example, the proposed tax for a home with a fair market value of $100,000 is approximately $316.00 at a rate of 7.9 mills as compared to $309.52 at the rollback rate of 7.738 mills resulting in an increase of approximately $6.48.
Three public hearings have been scheduled on the proposal of a 7.9 mill property tax rate. Public Hearing dates and times are:
June 12, 2018 Noon Social Circle Community Room
June 12, 2018 6:00 p.m. Social Circle Community Room
June 19, 2018 6:30 p.m. Social Circle Community Room
The Social Circle community room is located at 138 East Hightower Trail, Social Circle, GA
You may view the current proposed City Budget here.