O.C.G.A. 20-2-165 Minimum Millage Rate to Qualify for Equalization
(9)(c) Requires a Minimum Millage Rate to Qualify for Equalization: (9) "Qualified local school system" is defined as any local school system: (A) Having an assessed valuation per weighted full-time equivalent count for the year of the digest which is below the guaranteed valuation; (B) Having an effective millage rate greater than the millage rate applied to calculate the local five mill share pursuant to subsection (a) of Code Section 20-2- 164; and (C) Beginning July 1, 2015, having a millage rate or an equivalent millage of at least 12 mills; beginning July 1, 2016, having a millage rate or an equivalent millage of at least 12 1/2 mills; beginning July 1, 2017, having a millage rate or an equivalent millage of at least 13 mills; beginning July 1, 2018, having a millage rate or an equivalent millage of at least 13 1/2 mills; beginning July 1, 2019, and thereafter, having a millage rate or an equivalent millage of at least 14 mills.
Historical Equalization Funding | |
---|---|
FY16 | $ 654,500.00 |
FY17 | $ 790,135.00 |
FY18 | $ 723,816.00 |
FY19 | $ 878,777.00 |
FY20 | $ 836,743.00 |
FY21 | $ 1,058,633.00 |
FY22 | $ 1,457,091.00 |
FY23 | $ 1,502,541.00 |
FY24 | $ 1,339,180.00 |
FY25 | $ 1,588,933.00 |
Total | $ 10,830,349.00 |
This chart shows the historical financial impact of Educational Equalization. FY25, it is 15.6% of the total QBE allotment |
School Tax Comparison for $100,000 home | |||
---|---|---|---|
40% Assessed Value | Millage Rate | Total Tax | Decrease |
$ 40,000.00 | 14.062 | $ 562.48 | |
$ 40,000.00 | 14.000 | $ 560.00 | $ 2.48 |
$ 40,000.00 | 13.121 | $ 524.84 | $ 37.64 |
This chart compares the tax impact on a residential home on the current millage rate, the millage rate at the equalization minimum, and the assessor's proposed rollback millage rate. |
Value per mill of tax | |
---|---|
2024 Tax levy | $ 3,268,409.00 |
Current Millage Rate | 14.062 |
Value per mill | $ 232,428.46 |
This chart is reflecting the value of a mill of tax. For FY25, the amount received in equalization is worth 6.836 mills of local tax. |
10 Year Millage Rate History | |
---|---|
2014 | 15.110 |
2015 | 15.110 |
2016 | 15.110 |
2017 | 15.110 |
2018 | 15.098 |
2019 | 15.095 |
2020 | 15.095 |
2021 | 14.250 |
2022 | 14.250 |
2023 | 14.062 |
2024 | 14.000 |
The millage rate has decreased by 1.11 mills since 2014. |