2021 CID PROPOSED MILLAGE RATE

REPORT OF HIGHWAY 278 COMMUNITY IMPROVEMENT
DISTRICT OF PROPOSED MILLAGE RATE

In compliance with O.C.G.A. §48-5, the Highway 278 Community Improvement District (“CID”) reports that at its meeting on July 8, 2021, beginning at 12:00 Noon at the Center for Preservation and Planning, 2104 Washington Street, S.W., Covington, Georgia 30014, the CID Board of Directors will vote upon a proposal to levy an ad valorem taxation rate of 5 mills, and will set its millage rate for the lawful purposes of the District for the current calendar year.  Set forth below are the assessed taxable values of the properties subject to taxes for the current year and immediately preceding 4 calendar years, the total dollar amount of ad valorem taxes proposed to be levied for the current year and levied in the immediately preceding 4 calendar years, as well as the percentage and total dollar increases or decreases with respect to the immediately preceding calendar year.  All property levied upon is real property.  Because this CID was created 4 years ago, there are only 4 preceding years of CID assessed taxable values, taxes, and changes to report.  The millage rate each year has been 5 mills.  

Year

2017

2018

2019

2020

2021 (proposed)

Assessed Value

$30,687,216

$31,503,440

$32,884,424

$36,413,184

$37,481,314

 

Taxes Levied

$155,436

$157,517

$164,422

$182,066

$187,406

% Change

100%

3%

4%

11%

3%

$ Change

$153,436

$4,081

$6,905

$17,644

$5,340

J. Lynn Rainey – State Bar No. 592350 – 358 Roswell Street, Suite 1130

Marietta, Georgia 30060 – (770) 421-6040