The city of Bowdon has advertised that it will be increasing its property tax millage rate, but city officials on Friday were unsure if the increase will be necessary after all.
The city’s current tax millage is 8.66 mills and the proposed new millage rate would be 12.22 mills. The new rate would be 1.86 mills above the roll-back rate, according to the city’s advertisement in the Friday edition of the Times-Georgian. State law requires that proposed millage rate increases be advertised in the county’s legal organ and a series of three public hearings be held.
The first public hearing is scheduled for 7:15 p.m., Monday, at the beginning of the regular monthly meeting of the mayor and council. The other two public hearings are scheduled for 8 a.m., Aug. 19 and 6:30 p.m., Aug. 19. A called council meeting is set for 7:15 p.m., Aug. 19, for the city to vote on the tax rate.
“The reason for proposing the increase was because we lost $125,000 when our share of LOST (local option sales tax) was cut from 3.2 percent to 2.5 percent,” said Bowdon City Manager Jimmy Meigs. “Now we may not need the increase after all.”
Meigs said the city received notification Friday that it will be paid a $156,000 insurance settlement on a theft loss, which would offset the budget shortfall.
“Based on getting the insurance funds, it appears we won’t have to have the millage increase,” Meigs said.
via Bowdon unsure now whether tax hike is needed – Times-Georgian: News.
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