Monday, August 5, 2019
The McIntosh County Industrial Development Authority Board of Directors Announces a Proposed Property Tax Revenue Increase
The McIntosh County Industrial Development Authority Board of Directors today announces its intention to increase the property taxes it will levy this year by .40% over the rollback millage rate. In other words, the IDA anticipates an increase in revenues attributable to ad valorem taxes totaling $9,613. There is no proposed millage rate increase. The increase in revenues to the IDA is due to increases in value of some real properties in the county.
Each year, the Board of Tax Assessors is required to review the assessed value of taxable property in the county. When the trend of prices on property 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.
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.
The McIntosh County Industrial Development Authority anticipates keeping the millage rate at 1.000, a rate which has been applied for the last five years. Because the application of that rate will result in increased revenues to the IDA, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase in revenues to the IDA.
The primary factor influencing the IDA Board’s decision to keep the original millage rate of 1.000 was the fact that there has been a decrease in revenue from the millage rate for several years.
All concerned citizens are invited to the public hearings on this tax revenue increase to be held at the McIntosh County Industrial Development Authority office, 211 Walton Street, Darien, Georgia on August 15, 2019 at 8:30 AM and 12:30 PM and on August 22, 2019 at 6:00 PM.
NOTICE OF PROPERTY TAX INCREASE
The McIntosh County Industrial Development Authority has tentatively adopted a millage rate which will require an increase in property taxes by 0.40 percent.
All concerned citizens are invited to the public hearing on this tax increase to be held at 211 Walton Street, Darien, GA on August 15, 2019 at 8:30 AM and 12:30 PM and on August 22, 2019 at 6PM
This tentative increase will result in a millage rate of 1.00 mills, an increase of 0.004 mills. Without this tentative tax increase, the millage rate will be no more than 0.996 mills. The proposed tax increase for a home with a fair market value of $125,000 is approximately $0.20 and the proposed tax increase for non-homestead property with a fair market value of $50,000 is approximately $0.08.