Property owners in the City of Statesboro will see a slight increase on their property tax bill this year if the city council approves the millage rate as proposed.
The City of Statesboro has announced its intention to set the millage rate at 7.03 mills, a rate that is steady from previous years but will show an increase on tax bills due to increased values on property assessments by the tax assessor.
The millage rate for city residents has been 7.03 mills since tax year 2017, when city council approved a 16.38% increase. Improved property values have since contributed to an increase on tax bills in the years that have followed, topping at 5.40% in 2018, 5.11% in 2019, and 4.86% in 2020 if council approves the rate as advertised.
The City has the option to avoid a tax increase and ‘roll back’ the millage rate to the rate at which it would collect the same amount assessed in the year prior, or 2019, to offset the increase in property values. Without the rollback, the city will collect an additional $137,607 over the $5,354,341 assessed in 2019.
How to figure your property tax
The assessed value (40 percent of the fair market value) of a house that is worth $100,000 is $40,000. In a city where the millage rate is 7.03 mills, one would calculate $7.03 for every $1,000 of assessed value or $7.03 multiplied by 40, which = $281.2.
Three public hearings are required by law before the increase can be formally approved by council. Those hearings, which are open to the public for comment and observation, are scheduled for:
- August 27 at 9:00 am
- August 27 at 6:00 pm
- September 1 at 9:00 a.m.
All three will be held at City Hall in Council Chambers located at 50 East Main Street.
Council is slated to approve the millage rate after the public hearing at the September 1 meeting.