Following a final public hearing on the matter, the Sandy Springs City Council voted to adopt a 2022 millage rate of 4.731 mills, the same rate the city has maintained over the past five years. Even so, this rate will result in an increase in property taxes by 3.85 percent.
When a city is setting the annual millage rate, the state requires the city to take into account increased property values and calculate a rollback rate that would avoid an increase in taxes. When the city chooses not to adopt the rollback rate, the city must advertise the millage rate as an increase.
The adopted millage rate of 4.731 mills is an increase of .175 mills over the rollback rate and will result in an estimated $2 million in additional tax revenue for the city. Without this tax increase, the millage rate would be no more than 4.556 mills.
For homes with a fair market value of $500,000 the property tax will increase by approximately $32.41 and the proposed tax increase for non-homestead property with a fair market value of $500,000 is approximately $35.04.
