The city council decided to implement a rollback millage rate, which reduces the rate down to 3.643 mills from 3.989 mills. Cleatus Phillips, the City Manager, said:
“The full rollback rate is the right thing to do. We’re financially strong and take the rollback rate.”
Georgia’s authorities are tasked with calculating the rollback millage rate every year. The rate is calculates using metrics such as property assessments that could change the property’s value when it comes to taxation. The rollback rate is designed to adjust the taxation prices so that existing properties are able to bring in the same revenue as they did the year before.
One mill is $1 worth of tax paid for every $1000 of the property’s assessed value. Georgia properties are assessed at 40 percent of their real value. The millage rate for 2018 was 4 mills and it was 3.87 mills in 2017. The official rate would likely be shared on documents with official Letterheads.
At the same meeting where the mill rate was agreed on, the city council also voted on other issues such as getting rid of the traffic signals at the intersection of Brown Street and West Washington Street so that the junction can become a 4-way stop.
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