As property values on the 2022 tax digest have increased, the rollback millage rate for M & O was calculated to be 5.366 mills.
The proposed M & O millage rate of 6.043 mills represents a 12.62% increase over the rollback millage rate.
The tax levy will generate about $19,517,063 or 17.59% more tax revenue than the 2021 levy due to the combined impact of new growth, decline in motor vehicle values and increased property values because of reassessments of existing property.
The net M & O digest value increased by a total of $483,035,472 or 17.59% from 2021 to 2022.
As real property values have increased, the M & O rollback millage rate of 5.366 is 0.677 mills lower than the current rate of 6.043.
For more information, visit peachtree-city.org.