Cedartown City Commissioners are set to tentatively approve a 2018 millage rate of 11.201 mills, the same as last year’s rate, according to a City of Cedartown press release. However, due to the growth in the city’s tax digest, the city will increase the property tax it will levy this year by .46 percent over the rollback millage rate.
This means that a home with a fair market value of $100,000 will see an increase of $1.94 and a non-homestead property with a fair market value of $75,000 will see an increase of $1.53.
The rollback rate is based on the total increase of property values in the City.
When the total digest of a 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 or growth occurred.
Before the Cedartown Commissioners can officially approve the millage rate, they must hold three public hearings. All concerned citizens are encouraged to attend. These meetings will be held at Cedartown City Hall in the Council Room. The meetings are planned for 10 a.m. on Aug. 29, 6 p.m. on Aug. 29 and 5 p.m. on Sept. 10.