Following a series of public hearings, the Alpharetta City Council recently adopted a FY2022 millage rate of 5.75 mills, the same rate as last year.
Despite increased property values estimated to help grow the tax base by 3%, the city’s FY 2022 budget forecasted an overall reduction in property tax revenue from the commercial tax base due to the COVID-19 pandemic and its effect on operations. The city anticipates an additional $1 to $1.5 million in property tax revenue as a result.
The city’s millage rate of 5.75 mills includes 4.935 mills for general government (i.e., operations and recurring capital investment) and 0.815 mills for debt service on voter approved bonds.
In their proposal to approve the millage rate, the city notes “the FY 2022 millage rate, coupled with the city’s substantial homestead exemptions, goes great lengths in keeping Alpharetta an affordable place to live and strategically positions us relative to neighboring areas.”
