Kennesaw Announces Property Tax Increase
July 10th, 2017 by Pam Davis
The City of Kennesaw today announces its intention to increase the 2017 property taxes it will levy this year by 6.50 percent for M&O and 6.31 percent for Bond over the rollback millage rate.
Each year, the board of tax 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.
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 had no reassessments occurred.
The budget tentatively adopted by the City of Kennesaw Council requires a millage rate higher than the rollback millage rate. Before the City Council finalizes the tentative budget and sets a final millage rate, Georgia law requires three public hearings to be held. This allows 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 at the City Council Chambers located at 2529 J.O. Stephenson Avenue, Kennesaw, Georgia on July 10, at 6:30 pm and July 17 at 10:30 am and 6:30 pm.