The City Council adopted a balanced budget on June 9 without raising taxes or establishing new fees, which also included no service reductions.
The overall millage rate for property owners in Marietta will decrease so that property owners will pay less in property taxes this year than last year unless their property is commercial or industrial and was reassessed by Cobb County, according to a statement by Marietta Communications Manager Lindsey Wiles.
When the total digest of taxable property is prepared, 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.
The budget tentatively adopted by the Marietta City Council contains a General Fund millage rate which differs from the rollback millage rate.
Before the Marietta City Council can finalize the tentative budget and set a final millage rate, Georgia law requires three public hearings to allow the public an opportunity to express their opinions on the General Fund.
According to Georgia law, all taxing agencies must advertise a tax increase and hold three public hearings to claim taxes on reassessed properties even if the millage rate remains unchanged as is the case in Marietta.