The Kennesaw City Council will hold public hearings on its intention to increase property tax rates - while keeping the same millage rate.
All concerned citizens are invited to these hearings at 6 p.m. Aug. 9 and 10:30 a.m. and 6:30 p.m. Aug. 16 in the Kennesaw City Hall Council Chambers, 2529 J. O. Stephenson Ave., Kennesaw.
This tentative increase will result in a millage rate of 8 mills for M&O and 1.5 mills for Bond, an increase of .542 mills for M&O and .093 mills for Bond.
Both millage rates have remained the same since at least 2016.
Each year when the total digest of taxable property is prepared by Cobb County and each county, Georgia law requires that a rollback millage rate must be computed that will produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred.
Without this possible tax increase, the millage rate will be no more than 7.458 mills for M&O and 1.407 mills for Bond.
Since the City Council plans not to roll back the millage rate, the 2021 property taxes will increase by 7.27 percent for M&O and 6.61 percent for Bond over the rollback millage rate.
The proposed annual tax increase for a home - with a fair market value of $225,000 - is around a $49 increase for M&O and an $8 increase for Bond.
Then the proposed annual tax increase for non-homestead property - with a fair market value of $450,000 - is about a $98 increase for M&O and a $17 increase for Bond.
Information: kennesaw-ga.gov/press-release-announcing-property-tax-increase-2
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