SOCIAL CIRCLE, Ga. - Public Hearings have been scheduled by City Council to seek citizen input into setting of the tax rate for the year 2023.
Under Georgia law, whenever property values in the city as a whole increase, or the tax rate, known as millage rate, increases, the City Council must hold at least three public hearings to explain the property tax change.
The total city budget is $35 million for the 2023 fiscal year. A millage rate is being considered that would provide $2.2 million from property taxes. A stable property tax income is necessary in order to continue to provide essential city services such as police, fire, and street maintenance. The balance of revenues comes from local option sales tax, utility fees, permits and licenses.
Mayor and City Council are considering a tax rate of 7.900 mills or 0.007900. This is an increase of 0% from the current rate of 7.900 mills or 0.007900.
Assessed property values in the city limits of Social Circle increased 14.28 percent on average this year. The roll back tax rate would be 7.579 mills or $0.007579, which would eliminate the effect of any increase in property value. In addition, property tax revenues will increase due to new construction and industries whose incentive property tax abatement has expired, such that they are paying property taxes on more of the value of their property.
The millage rate is applied to 40 percent of the assessed value of the property. For example, the proposed tax for a home with a fair market value of $100,000 is approximately $316.00 at a rate of 7.9 mills as compared to $303.16 at the rollback rate of 7.579 mills resulting in an increase of approximately $12.84.
Three public hearings have been scheduled on the proposal of a 7.9 mill property tax rate.
Public Hearing dates and times are:
August 3, 2023 Noon Community Room, 138 E Hightower Trail
August 3, 2023 6:30 p.m. Community Room, 138 E Hightower Trail
August 15, 2022 6:30 p.m. Community Room, 138 E Hightower Trail
The City’s Adopted Budget is available at www.socialcirclega.gov.