Kennesaw to hold hearings on tax rates

Public hearings will be held at 6 p.m. Aug. 10 and 10:30 a.m. and 6:30 p.m. Aug. 17 by the Kennesaw City Council, regarding the property tax rate. (Courtesy of Kennesaw)
Public hearings will be held at 6 p.m. Aug. 10 and 10:30 a.m. and 6:30 p.m. Aug. 17 by the Kennesaw City Council, regarding the property tax rate. (Courtesy of Kennesaw)

Credit: City of Kennesaw

Credit: City of Kennesaw

The Kennesaw City Council will hold three public hearings on Aug. 10 and 17, regarding the city's property tax rate.

The M&O millage rate is proposed to stay the same at 8 mills which has been the same rate for at least the last five years.

However, the hearings are required by state law since this millage rate is higher than the rollback millage rate - 6.91 percent higher for M&O and 6.38 percent higher for Bond.

The rollback millage rate must be computed that will produce the same total revenue on the current year's tax digest that last year's millage rate would have produced had no reassessments occurred.

These hearings will involve two special called meetings at 6 p.m. on Aug. 10 and 10:30 a.m. on Aug. 17.

The final hearing will be followed by the vote of the Kennesaw City Council at 6:30 p.m. on Aug. 17.

All of the meetings will be held at the Council Chambers, Kennesaw City Hall, 2529 J. O. Stephenson Ave., Kennesaw.

These tentative increases will result in a millage rate of 8 mills for M&O and 1.5 mills for Bond, an increase of .517 mills for M&O and .09 mills for Bond.

Without these increases, the millage rate will be no more than 7.483 mills for M&O and 1.41 mills for Bond.

The proposed annual tax increases for a residence with a fair market value of $225,000 are about $47 more for M&O and an $8 increase for Bond.

For nonhomestead property with a fair market value of $425,000, the annual increases would be $88 more for M&O and $15 extra for Bond.

Information: https://www.kennesaw-ga.gov/press-release-announcing-property-tax-increase