July 26, 2021–10:04 p.m.
The Floyd County Board of Commissioners will hold a series of meetings Tuesday.
A public hearing for the FY21 millage rate will be held at 8:00 am and 6:00 pm in the Community Room at the County Administration Building on East 4th Avenue.
The Caucus will begin at 4:00 pm in the Caucus Room (Suite 204), the regularly scheduled Board Meeting will commence immediately following the public hearing in the Community Room
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 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 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 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 Floyd County Board of Commissioners requires a millage rate higher than the rollback millage rate; therefore, before the Floyd County of Commissioners may finalize the tentative budget and set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinion on the increase. The first was held on July 13.
The meetings are open to the public. Everyone in attendance is asked to follow the latest guidance from the Centers of Disease Control and Prevention.