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Georgia Property Tax Issues: Assessments and Millage Rates Q & A

I don’t know where I copy/pasted this from but I decided that my friend Trulia Atlanta needed to read some seriously deep, dry and boring Q&A on property taxes...before I do that, does everyone realize the awesomeness of Trulia's reporting and graphics ? Q:  Property values and assessments have been going down over the last few years.  Why are property taxes still just as high or even higher? A: Each county still needs a certain amount of tax revenue to operate. They still have to provide schools, police, fire protection, and all other county services.  If the assessments go down, the county has to raise the millage rate. Q: What is the millage rate? A: The millage rate is a number that is multiplied by 40% of the final property assessment (after all exemptions) to get the tax bill amount on each property.  The millage rate is the same for everyone in the same county or city. Q: Then why does it help homeowners to get their assessments reduced?  A: … [Read more...]