//City of Valdosta tentatively adopts new millage rate

City of Valdosta tentatively adopts new millage rate

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Valdosta, Ga- After a recent property reassessment, the city of Valdosta has tentatively set a millage rate which would increase property taxes by 3.37%, as well as setting public hearings on the matter.

From the city of Valdosta:

“The Lowndes County Tax Assessor is required to review the assessed value of property in the county, which includes the City of Valdosta as well as all other cities located in Lowndes County, on a regular basis. When there is a change in the fair market value of property, the Tax Assessor must adjust the value of real property on the digest to reflect the change in market value of real property in Lowndes County. This process is known as property reassessment.

The Valdosta City Council is carrying out a deliberate strategy to increase the quality of life for the citizens of the City by providing additional high quality municipal services. In previous years the City has rolled back the millage rate to the computed “rollback rate”.  Because the City of Valdosta is proposing to adopt the same rate it adopted last year (7.796 mills) rather than the rollback rate of 7.542 mills, it must advertise a tax increase.

The City of Valdosta has tentatively adopted a millage rate which will require an increase in property taxes by 3.37percent.  All concerned city citizens are invited to the public hearing on this tax increase to be held in the Council Chambers of City Hall, 216 E. Central Avenue on August 17, 2022 at 12:00 noon and 6:00 p.m.  Times and places of additional public hearings on the tax increase are in the Council Chambers of City Hall, 216 E. Central Avenue on August 25, 2022 at 5:30 p.m.  This tentative increase will result in a millage rate of 7.796 mills, an increase of 0.254 mills.  Without this tentative tax increase, the millage rate will be no more than 7.542 mills.  The proposed tax increase for a home with a fair market value of $150,000 is approximately $13.71 and the proposed tax increase for non-homestead property with a fair value of $150,000 is approximately $15.24.”