FY2018 Tax Millage Hearing
Mayor and Council adopted the City Budget on final reading, June 19, 2018. The adopted Budget for FY 2018 -19 is based on a recommended rate of 16.44 mills, same as FY 2017-18. This rate has been advertised as required and is ready for adoption by Council. This is the second of three (3) hearings for that purpose. Three hearings are required by the state, due to the increase in residential property tax assessments.
As has been well advertised, the Fulton County property digest for 2017 has yet to be approved by the State. The 2018 digest cannot be approved prior to the 2017 digest. The courts approved a Temporary Collection Order (TCO) for the billing districts to collect taxes based upon the current county appraisals. At this point in time staff projects that the General Fund millage of 16.44 Mills will generate approx. $4.35M in billable Real Property Taxes. The City Budgeted $3.95M in Real Property taxes. The budget included $340K in transfers from the Water and Sewer Fund to meet General Fund commitments. Without the transfers, the City Real Property Tax estimated budget needed to be $4.29M.
Mayor and Council Comments: