SUMMARY:

            This bill would amend Article 1 of Chapter 5 of Title 48 of O.C.G.A. to change provisions relating to certification of the assessed value of property, as well as how it is computed.  It also calls for a resolution or ordinance to set a millage rate with an advertisement of the intent to increase property tax.

REQUIREMENTS:

• This bill would add to the definition of “roll-back rate” a requirement that the tax commissioner calculate and certify that rate, or that the collecting officer of a municipality do the same for the municipality.
• The bill would add to the advertisement that is already required:
• • The name of the recommending authority or levying authority
  • The percentage increase over the roll-back rate
  • Times and places for additional public hearings on the increase
  • The resulting millage rate and how much more it is than the roll-back rate and what the millage rate would be without the increase, and the percent of increase for a home of a $100,000 value.
• Adding to the current requirements, the advertisement size must be at least 30 square inches
• The recommending authority may include reasons or explanations for the increase.
• The bill would prohibit the state tax commissioner from accepting a digest if the taxing entity has not complied with the requirements in this bill with the exception that if the commissioner determines the error was a bona fide error in calculation or if the tax increase does not exceed the amount of the advertised increase by more than 3%.