As required by Georgia law, the Atlanta Board of Education will host three public hearings to give residents an opportunity to express their opinions on Atlanta Public Schools’ proposed tax rates for the fiscal 2019 budget (the 2019-20 academic year).
Public hearings will be held at the district’s Alonzo A. Crim Center for Learning and Leadership, located at 130 Trinity Ave. in downtown Atlanta, July 22 at 6 p.m. and July 29 at 9 a.m. and 6 p.m.
Each year, the board of tax assessors is required to review the assessed value of taxable property in the county, for property tax purposes. When the trend of prices on properties that have recently sold in the county indicates there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to redetermine the value of such property and adjust the assessment. This is called a reassessment.
State law requires that a rollback millage rate be computed to produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred. Using this required calculation, the board has announced its intention to increase the 2019 property taxes it will levy this year by 1.52% over the rollback millage rate.
The district intends to maintain the current 20.740 millage rate. As a reminder, the district rolled back 1.0 mill in fiscal 2018 from 21.740 to 20.740. To fully offset the increase in the digest would require a rollback of the millage rate from 20.740 to 20.429 mills. With no rollback, the proposed tax hike for a homesteaded property with fair market value of $300,000 is about $37.