PRESS RELEASE ANNOUNCING A PROPOSED PROPERTY TAX INCREASE

Today, the Wadley City Council announces its intention to increase the 2024 property taxes it will levy by 1.60 percent 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 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 Wadley City Council requires a millage rate higher than the rollback millage rate; therefore, before the Wadley City Council 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 the Wadley City Hall, 37 Butts Street, Wadley, Georgia, on September 26th, 2024, at 1:00 PM and September 26^th at 5:00 PM. A third hearing will be held on October 3rd, 2024, at 6:00 PM.