Atlanta school board sets property tax rate, OKs partial rollback

Owners will still pay more because of rising property values

The Atlanta Board of Education agreed to partially roll back the property tax rate, a move that amounts to a 5% increase because of rising property values.

The board voted Monday to set the millage rate at 20.5 mills, a decrease from the last fiscal year’s rate of 20.74 mills. But the new rate legally is considered a tax increase because the board did not drop it all the way to 19.522 mills, the level required to offset tax increases because of higher property valuations.

”A full roll-back would mean that we would need to cut our revenue projections by about $31 million,” the district states in a budget presentation.

The owner of a $325,000 home with a homestead exemption will pay an estimated $37 more a year than if the rate had been lowered all the way to 19.522 mills, according to APS.