Tuesday, April 13, 2010

State proposal offers slight reduction to total tax

The Georgia General Assembly is back from a two week recess and in the homestretch of their 2010 legislative session. Before their break, the state Senate passed SB 517, which would eliminate the state’s portion of property tax bills in Georgia. If this measure passes the House and is signed by the governor, what this would mean for Decatur residents is a reduction of one-quarter mill from their DeKalb County tax bill.

Let’s say your total value is $275,000 and your DeKalb County 40 percent taxable assessment is $110,000. The state millage rate is 0.25 mills (keeping in mind that a mill means one one-thousandth). To calculate how much your bill would be reduced by, you would multiply your taxable assessment by one one-thousandth by the millage rate.

The $27.50 tax reduction in this example would be more or less depending on the taxable value of your property.

DeKalb County bills and collects the state’s share of your property taxes, not the City of Decatur. Since we do not bill for state taxes, there would be no change in your city taxes if this legislation passes.

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