Local Board Reports 59% Property Value Surge Amid Stable Millage Rate

Residents in Georgia are witnessing a significant rise in property values, with an increase of over 59% since 2020, according to recent discussions from a government meeting. This surge has been attributed to various factors, including the area's proximity to Chattanooga, the presence of Interstate 75, and a limited supply of land compared to neighboring counties.

Despite the soaring property values, the local board has managed to maintain the millage rate at 14.87, effectively lowering it in recent years. This decision has allowed the community to collect more funding, with net MNO Digest rising from $1.6 billion in 2019 to $3.1 billion in 2024. The increase in exemptions has also contributed to a growth of approximately $230 million during this period.

Officials confirmed that the local board of assessors conducts annual evaluations to ensure property values are accurately measured, providing reassurance to residents about the integrity of the assessments. As property values continue to climb, the community can expect ongoing discussions about funding and resource allocation to address the implications of this rapid growth.