The city of Buford is holding its final hearings this month on adopting the 2021 property tax rates. Buford is proposing an increase of 0.94 percent in Gwinnett County and 0.76 percent in Hall County.
The Gwinnett County Tax Assessor’s Office mailed out the 2021 Annual Notice of Assessments on April 23. The assessments all saw an increase in fair market value for all real estate in the county due to the high demand for real estate, which has steadily increased over the past few years. The assessments were not an actual bill but were only an estimate of taxes due. Property owners will receive their actual tax bills after local governments adopt their 2021 millage rates.
State law says that before local governments can adopt their property tax millage rate, they must hold three public hearings on the matter. The governing body of the local government can then vote on whether or not to adopt the proposed millage rate.
The city of Buford (Gwinnett County) is proposing an increase of 0.94 percent, which will increase the millage rate by .117 mils with the new millage rate set at 12.600 mills. To put that into perspective, a home that has a fair market value of $300,000 will see the property taxes rise by $14.04 should the new rate be adopted.
The city of Buford (Hall County) is proposing an increase of 0.76 percent, which will increase the millage rate by .095 mills. The new millage rate would be 12.505 mills. For homes with a fair market value of $275,000, the property taxes would increase by $10.45.
The first hearing for the proposed tax increase for the city of Buford will be held at 7 p.m. Monday, July 19, at the Buford City Arena at 2795 Sawnee Ave. The second and third hearings for the proposed tax increase will be held at 10 a.m. and 7 p.m. Monday, Aug. 2, at the Buford City Arena.