Fulton County residents will have an opportunity to make their voice heard in regards to a possible increase in property tax millage rates when the Fulton County Board of Commissioners meet Wednesday, July 11 at 10 a.m.
County property tax rates could rise from 10.281 to 10.791 mills to help balance the $605 million general fund budget, which runs day-to-day operations. The rate hike might not increase the burden of taxpayers, however.
“It is expected the new rate will generate the same amount of billing as last year,” county Finance Director Patrick O’Connor said in a statement. “In other words, the revenue-neutral millage rate [of 10.791 mills] is the rate that will be used to offset the decline in value of existing properties.”
O'Conner explained that a $2.2 billion decline in tax digest value for 2012 as received from the Board of Assessors' office means Fulton will only earn $455 million in income if the current rate is extended — a net reduction of $74 million, or 14 percent in county revenue. According to information provided by fultoncountyga.gov, the 0.51 mill adjustment would net approximately $17 million in revenue for the General Fund if approved.
The Public Hearing will take place in Assembly Hall of the Fulton County Government Center, 141 Pryor Street, SW, Atlanta. Video-conferencing will also be offered, allowing residents to participate from the South Fulton Government Service Center, 5600 Stonewall Tell Road, College Park, and the North Fulton Government Service Center, 7741 Roswell Road, Sandy Springs.
What do you think of the proposed millage rate increase? Make your voice heard now, before the public hearing, in the comments below.