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PRESS RELEASE ANNOUNCING A PROPOSED PROPERTY TAX INCREASE July 17, 2020 The Walton County Board of Commissioners today announces its intention to keep the 2020 millage rate at 10.905 which is the same as 2019. The result of this will be a property tax increase of 2.14 percentage over the rollback millage rate. Each year, the board of 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 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 budget tentatively adopted by the Walton County Board of Commissioners requires a millage rate higher than the rollback millage rate; therefore, 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 historic Walton County Courthouse, 111 S. Broad St., Monroe, GA on July 27, 2020 at 6:00 PM and on August 4, 2020 at 12:00 PM and 5:30 PM.