Taxing entities are required by law to post notices when property taxes may increase in an upcoming budget. To meet mandatory notification deadlines, these notices may be posted before the budget is finalized.
A city may not set a tax rate above the rate that is posted in the state required notices. Consequently, the city of Troup is posting a notice that indicates the maximum amount that taxes could be increased without the possibility of a rollback election. This posting does not mean that the city plans to set the rate at the maximum rate. The notice is a requirement of the law, and by indicating the maximum rate in the notice, it gives the city the greatest flexibility in setting a rate at any level below the rollback rate. The tax rate cannot be adopted until after two public hearings scheduled for Monday, Aug. 21 at 6:30 p.m. and Monday, Sept. 11 at 6:30 p.m. as stipulated in the formal notice. Both public hearings will be held at the Cameron-J.Jarvis Troup Municipal Library.