The Powder Springs City Council will hold three public hearings in July on setting the city’s property tax millage rate for this year.
This proposed rate is 9.5 mills - the same rate as for 2018, 2019 and 2020, according to a city news release.
Projected tax collections for this year will be 6.12 percent higher - based on the rollback millage rate calculated by Georgia law and based on increased property values and additions to the city’s tax digest, the statement added.
Before the city can set the final millage rate of 9.5 - an increase of .548 mills, the three public hearings are required regarding the proposed increase, the statement said.
Without this tentative tax increase, the millage rate will be no more than 8.952 mills.
The proposed tax increase for a home with a fair market value of $200,000 is approximately $42.74; and the proposed tax increase for non-homestead property with a fair market value of $250,000 is an estimated $54.80.
After the hearings, the Council will meet at a special called meeting at 6 p.m. July 19 in the Municipal Courtroom, Powder Springs Municipal Court Building, 4483 Pineview Drive to vote on establishing this year’s property tax millage rate.
All three hearings will be held in this same location but at noon and 6:30 p.m. July 12 and 6 p.m. July 19.
For more information, including two homestead exemption applications and Cobb County forms and a YouTube video on the Cobb County floating homestead exemption, visit CityOfPowderSprings.org/821/2021-Millage-Rate.
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