WOODSTOCK — Woodstock plans to increase property taxes by 2.855%, prompting mandatory public hearings as required by state law.
💰 Why It Matters: Homeowners and property owners will see a rise in their tax bills, impacting household budgets.
📅 What’s Happening: The city will hold three public hearings to comply with state law:
- August 12, 2024, at 7 p.m.
- August 19, 2024, at 6 p.m.
- August 26, 2024, at 7 p.m.
All hearings will take place at the Chambers at City Center, located at 8534 Main Street in Woodstock.
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🏠 Between the Lines: The proposed increase will raise the property tax rate from 5.078 mills to 5.223 mills. A mill represents $1 in tax per $1,000 of assessed property value. This increase means:
- An additional $27.55 for a home valued at $475,000.
- An extra $20.30 for non-homestead property valued at $350,000.
🔍 Catch Up Quick: Without this proposed increase, the property tax rate would remain at 5.078 mills. The new rate of 5.223 mills represents a rise of 0.145 mills. This change is part of the city’s strategy to cover rising municipal costs.
📊 The Big Picture: Property tax rates, also known as millage rates, are crucial for funding essential local services such as public safety, infrastructure maintenance, and community programs. The increase aims to address budgetary needs and ensure the continued provision of these services. However, it also directly impacts residents’ finances, sparking concern among homeowners and property owners who will bear the brunt of the higher taxes.
Georgia law mandates public hearings for any proposed property tax increase, ensuring transparency and giving residents the opportunity to voice their opinions. The hearings are a legal requirement.
❓ What is the Millage Rate?: The millage rate is your property tax rate. Your city, county, and school system all set a millage rate. That combined number becomes your overall property tax rate. One mill represents $1 of tax on every $1,000 of taxable property.
For more information about the proposed tax increase and the upcoming public hearings, residents can visit the official City of Woodstock website at woodstockga.gov. This site provides comprehensive details about the tax proposal, meeting schedules, and additional resources for understanding the impact of the new property tax rate.
In The Know: While much attention is given to national politics and the workings of Congress and the White House, local government meetings are where the decisions that impact your daily life are made. City Council, County Commission, School Board Meetings, and Town Halls are where your elected leaders discuss and decide the issues that most effect your family and your community. These meetings are open to the public.
Each week, The Georgia Sun highlights some of the meetings and local government actions you need to know about in your community to keep you informed and to make sure you know what decisions your elected officials are considering and how your tax dollars are being spent.
