Oakwood city leaders intend to increase their property taxes this year by more than 10 percent over the rollback millage rate.
On Tuesday, a release from Oakwood City Manager B.R. White's office said the city intends to increase the property taxes it will levy this year by 10.69% over the rollback millage rate.
They noted that when the trend of prices on recently sold properties in Hall County indicates that there has been an increase in the fair market value of property, the tax assessors' board is required by law to create 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 digest that last year’s millage rate would have produced if no reassessments occurred.
Public hearings are required in Oakwood over the rates, before Mayor Lamar Scroggs and the Oakwood City Council can finalize a millage rate higher than the rollback millage rate.
Public meetings for citizens will be held at City Hall on July 28 at 5:00 p.m., August 8 at 6:00 p.m. and August 14 at 7:00 p.m.
