Board approves 2023 millage rate and FY24 budget
Board approves 2023 millage rate and the budget for fiscal year 2024
Cobb's Board of Commissioners approved the millage rate for this year, keeping the general fund property tax rate steady at 8.46 and the Fire millage rate at 2.99. The vote happened after the third and final public hearing on the millage rate and considerable discussion among the board members.
An increase in the county's tax digest will allow the $1.2 billion budget to grow by approximately $16 million. Chairwoman Lisa Cupid pointed out that much of that increase was already allocated for public safety pay and positions, with additional needs from departments for the rising costs they face to provide services.
"We have not returned to the 2009 staffing levels because of the recession we experienced," Chairwoman Cupid said during a debate on rolling back the millage. "So what we'd essentially be doing is going further backward instead of forward in providing the level of service our citizens are expecting from us."
"All of the decisions we make impact the services we provide," the Chairwoman continued. "This is not easy for anyone. We feel for everyone who has to endure the effects of inflation as we do here. But if we don't make certain decisions today, we will have more dire discussions next year. As we consider the implications of rolling back the millage rate, we could end up having drastic repercussions on how we serve our citizens."
The county was required to submit its millage rate to the state by noon on Wednesday, July 26. The FY24 budget will take effect on October 1.
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PRESS RELEASE
ANNOUNCING A PROPOSED PROPERTY TAX INCREASE
The Cobb County Board of Commissioners today announces its intention to increase the property taxes it will levy this year, over the rollback millage rate, by 18.02 percent in the County Maintenance & Operations (General) Fund.
Each year, the Board of Tax Assessors is required by Georgia law to review the assessed value for property tax purposes of taxable property in the county. When the trend of prices on properties that have recently sold in the county indicate there has been an increase or decrease in the fair market value of any specific property, the board of tax assessors is required by law to re-determine the value of such property and adjust the assessment. This is called a reassessment.
When the total digest of taxable property is prepared, Georgia law requires that a “rollback” millage rate must be computed according to specific instructions issued by the Georgia Department of Revenue. This hypothetical “rollback” millage rate would have produced the same total tax revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred.
The continued recovery of the Cobb real estate market is the primary reason for this modest growth in property values and this corresponding increase in the county’s property tax digest. The 2023 proposed millage is higher than the recently computed "rollback" millage rate. Therefore, before the Cobb County Board of Commissioners may set the final 2023 millage
rates, Georgia law requires that three public hearings be held to allow the public an opportunity to express their opinions on the increase.
The Cobb County Board of Commissioners (BOC) is proposing the property tax millage rate of the General Fund be set at 8.46; the Fire millage rate at 2.99; the Debt Service (Bond Fund) millage Service District millage rate at 3.50. State law requires the County to advertise a “Tax Increase” in the press and on the County’s website.
All citizens are invited to the public hearings on this tax increase to be held at the Board of Commissioners meeting room located at 100 Cherokee Street, Marietta, Georgia on Tuesday, July 11, 2023, at 9:00 AM, Tuesday, July 18, 2023, at 6:30 PM and on Tuesday, July 25, 2023, at 7:00 PM.
The Board of Commissioners will adopt the 2023 Property Tax Millage Rates for its five tax districts (General, Fire, Debt Service, Cumberland Special Services District II, and Six Flags Special Services District) following the third public hearing at the BOC Meeting on Tuesday, July 25, 2023, at 7:00 PM.
Please view these documents concerning this year's budget and millage consideration:
Cobb County, Georgia
July 2023