NOTICE OF PROPERTY TAX INCREASE
Posted: August 07, 2018 at 02:00 PM
| Current 2018 Tax Digest and 5-Year History of Levy | ||||||
| City of Shiloh | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 |
| Real & Personal | 7,670,700 | 7,652,417 | 8,097,360 | 8,184,977 | 7,988,476 | 8,302,241 |
| Motor Vehicles | 513,250 | 426,160 | 350,330 | 271,790 | 223,800 | 175,890 |
| Mobile Homes | 108,343 | 87,223 | 86,929 | 74,525 | 78,388 | 72,066 |
| Timber - 100% | - | - | - | - | - | - |
| Heavy Duty Equipment | - | - | - | - | - | - |
| Gross Digest | 8,292,293 | 8,165,800 | 8,534,619 | 8,531,292 | 8,290,664 | 8,550,197 |
| Less M&O Exemptions | 969,760 | 1,001,060 | 1,050,966 | 1,043,035 | 790,284 | 938,263 |
| Net M&O Digest | 7,322,533 | 7,164,740 | 7,483,653 | 7,488,257 | 7,500,380 | 7,611,934 |
| State Forest Land | ||||||
| Assistance Grant Value | 11,473 | 12,618 | 12,826 | 12,970 | 13,085 | 82,664 |
| Adjusted Net M&O Digest | 7,334,006 | 7,177,358 | 7,496,479 | 7,501,227 | 7,513,465 | 7,694,598 |
| Gross M&O Millage | 4.784 | 4.534 | 4.534 | 5.500 | 5.500 | 5.500 |
| Less Rollbacks | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 | 0.000 |
| Net M&O Millage | 4.784 | 4.534 | 4.534 | 5.500 | 5.500 | 5.500 |
| Net Taxes Levied | 35,086 | 32,542 | 33,989 | 41,257 | 41,324 | 42,320 |
| Net Taxes $ Increase | (532) | (2,544) | 1,447 | 7,268 | 67 | 996 |
| Net Taxes % Increase | -1.5% | -7.3% | 4.4% | 21.4% | 0.2% | 2.4% |
PRESS RELEASE ANNOUNCING A PROPOSED PROPERTY TAX INCREASE
The Mayor & Council of the City of Shiloh announces its intention to increase the 2018 property taxes it will levy this year by .11 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 budget tentatively adopted by the Mayor & Council of the City of Shiloh requires that a millage rate higher than the rollback millage rate, therefore, before the Mayor & Council of the City of Shiloh may finalize the tentative budget and set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase. All concerned citizens are invited to the public hearings on this tax increase to be held at City Hall, 1175 Main Street, Shiloh, Georgia on August 31, 2018 at 10:00 AM and on September 11, 2018 at 10:00 AM and 6:00 PM.
Attached you will find the 2018 Tax Digest and 5 Year History that we are required to publish in the paper each year with at least 14 days before setting the millage rate for our property taxes. You will also find a Form PT32.1 which has been computed to show the same total revenue on the current year’s new digest that last year’s millage rate would have produced had no reassessments occurred. If the City elects to set the millage rate higher than the rollback rate, then the law requires us to hold three public hearings, place notices of the increase in the paper and issue a press release on the increase.
This year we have an increase of $8,322 of existing real property and an increase of $175,585 in real growth (normal assessed growth). This increases our gross property digest from $8,277,146 in 2017 to $8,550,197 in 2018. Our net digest (after exemptions) increased from $7,497,606 in 2017 to $7,611,934 in 2018 for an increase of $183,907. This increases the amount of taxes levied at the rollback rate of 5.494 by $996.
On the attached Form PT32.1 the millage equivalent of reassessed value added is $8,322. This is the reassessment growth in the millage rate and it is subtracted from the prior year’s millage rate of 5.50 to produce this year’s rollback rate of 5.494 mills. If you adopt a millage rate higher than 5.494 we are required to hold three public hearings and publish the require public notifications. As you can see on our 5 Year History, adopting a millage rate of 5.50 will result in a net increase of $996 or 0.11% more than the 2017 net taxes levied. Because the difference in the 2017 rate and the 2018 rate is so small the difference to the taxpayer should be negligible. On a property valued at $100,000 a millage rate of 5.50 will result in an annual tax bill of approximately $220.00 or $18.33 per month.
Therefore, we recommend that we advertise the 5 Year History with a proposed millage rate of 5.50 to be adopted by resolution at the September 11, 2018 Council meeting.
If you have any questions regarding this matter, please call me at 706.846.3814.
