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PRESS RELEASE REGARDING A PROPOSED PROPERTY TAX INCREASE
The Glynn County Board of Commissioners has announced its intention to increase the 2020 property taxes it will levy this year by 1.55 percentage over the rollback millage rate.
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 indicate 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 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 had no reassessments occurred.
The FY21 budget adopted by the Glynn County Board of Commissioners requires a millage rate higher than the rollback millage rate, therefore, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.
The rollback millage rate – the rate that would produce the same amount of revenue as last year based on this year’s assessed values – would be 4.789 mills. In order to fund the FY21 budget for the County, we require a millage rate of 4.863 mills. Because the County is planning to adopt the same rate as last year – 4.863 mills and not the rollback rate of 4.789 mills, we must advertise a property tax increase.
Revenue generated because of inflation (increased property values) in the housing market results in advertising a property tax increase if the rollback rate is not adopted.
If you have the Scarlett-Williams homestead exemption and your property’s assessed value has not changed due to property improvements, your tax bill for the County’s portion will remain the same as last year.
If you do not have the Scarlett-Williams homestead exemption and your property’s assessed value has increased, although the millage rate is the same as last year, your taxes will be higher due to the increased assessed value of your home.
All concerned citizens are invited to the public hearings on this tax increase to be held as follows:
August 14, 2020 at 10:00 a.m. and August 14, 2020 at 3:00 p.m. at the W. Harold Pate Building located at 1725 Reynolds Street, 2nd Floor Conference Room 224, Brunswick, GA 31520. These meetings will be teleconference meetings held virtually via Microsoft Teams with simultaneous public access provided and streamed live for public viewing at the Glynn County Board of Commissioners Youtube page at the following web address: https://www.youtube.com/user/glynnboc/live. Members of the public are welcome to come to the W. Harold Pate Building. The County will have a Microsoft Teams connection set up in the conference room for persons wishing to participate in the public hearing. Social distancing will be practiced. The time and place of a third public hearing on this tax increase will be published at a later date.