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|August 13, 2020 City Council Meeting|
32. Public Hearing #3 Regarding the 2020 Millage Rate
Public Hearing Notice and Additional Information: https://www.savannahga.gov/3043/Notice-of-Property-Tax-Increase
2020 Tax Digest and Five-Year History: https://www.savannahga.gov/DocumentCenter/View/19885/2020-Tax-Digest-and-Five-Year-History?bidId=
The Mayor and Aldermen of the City of Savannah are considering adopting a millage rate which will require an increase in property taxes by .92 percent over the rollback millage rate. The .92 percent increase over the rollback millage rate will maintain the current rate of 12.856 mills. The Mayor and Aldermen are simultaneously considering the rollback millage rate of 12.739 mills, but notice of the potential for maintaining the current millage rate must be given per state law.
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 proposed millage rate of 12.856 mills is an increase of .117 mills over the rollback millage rate of 12.739 mills. The proposed tax increase for a home with a fair market value of $100,000 is approximately $4.68 and the proposed tax increase for a non-homestead property with a fair market value of $500,000 is approximately $23.40.
Georgia law requires the City to advertise the rate of 12.856 as a tax “increase” because the rollback rate may not be adopted. While the revenue value of this rate may be higher than the rollback rate, the proposed rate itself remains unchanged from 2019, as seen in the chart attached below. The proposed millage rate of 12.856 mills represents a 26 percent reduction in Savannah’s property tax rate over the past 25 years.
Should City Council choose to adopt the 12.856 rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase over the rollback rate.
All concerned citizens are invited to the public hearings on the property tax rate to be held at City Hall, located at the corner of Bay and Bull Streets, Savannah, Georgia, on July 30, 2020 at 6 p.m.; August 13, 2020, 10 a.m.; and August 13, 2020 at 2 p.m.
The public may offer comment in one of two ways:
PUBLIC COMMENTS ACCEPTED: Register HERE to Speak during the Live Meeting for Alcohol Hearing Agenda Items
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