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The Coweta County Board of Education will
hold three public hearings over the next two weeks concerning
its intention to leave the school system’s current ad valorem
tax rate of 18.59 mills in place during 2008.
The 18.59 mill rate would be applied to property taxes levied by
the Coweta County Board of Education in the fall of 2008 and
would fund the local portion of school system operations during
the 2008-09 school year, if it is adopted by the school board in
late July. Leaving the property tax at the same millage rate
would increase property tax revenues the Coweta County School
System expects to levy this year by 0.45 percent over the
“rollback” millage rate.
Each year, the board of 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 increase 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 new
digest that last year’s millage rate would have produced had no
reassessments occurred.
For Coweta County, that rollback rate for 2008 would be 18.507
mills. Maintaining the current millage rate at 18.59 mills
(which has been the Coweta County School System’s millage rate
since 2004) would raise total school revenues by a little over
$300,000 in 2008 over the rollback rate of 18.507 mills. Georgia
Law requires that three public hearings be held to allow the
public an opportunity to express their opinions on the increase
in revenue.
All concerned citizens are invited to the public hearings on
this tax increase to be held at the Board of Education Office,
237 Jackson Street, Newnan, Georgia on July 14, 2008 at 7:30
a.m. and 6:30 p.m. and on July 24, 2008 at 6:15 p.m. |
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