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Some residents in Snellville may pay a higher property tax bill this year, despite the tax rate being decreased.
The culprit? Soaring home values.
City officials released a notice of property tax increase this month despite a reduction in the rate to 4.00 mills from last year’s 4.588, Snellville City Manager Butch Sanders said.
“The only reason there would be an increase in their taxes, since the millage rate went down, is if their reassessment put the value of their house at a higher level,” Sanders said.
It could be an increase of about 5% for some homeowners, the announcement said.
SOURCE: www.AJC.com
Some residents in Snellville may pay a higher property tax bill this year, despite the tax rate being decreased.
The culprit? Soaring home values.
City officials released a notice of property tax increase this month despite a reduction in the rate to 4.00 mills from last year’s 4.588, Snellville City Manager Butch Sanders said.
“The only reason there would be an increase in their taxes, since the millage rate went down, is if their reassessment put the value of their house at a higher level,” Sanders said.
It could be an increase of about 5% for some homeowners, the announcement said.
SOURCE: www.AJC.com