The Atlanta Board of Education adopted the 2017 millage rate on Thursday.
Photo: Bob Andres/bandres@ajc.com
Photo: Bob Andres/bandres@ajc.com

Atlanta school board adopts millage rate

After months of budget uncertainty, the Atlanta Board of Education set a millage rate for the current fiscal year of 21.74 mills.

The board held a final public hearing Thursday before unanimously voting to approve the fiscal year 2018 rate.

The rate reflects an increase due to reassessments of about .098 of a mill, according to numbers provided to the board earlier this month.

The district must calculate a rollback millage rate, or the amount of the previous year’s rate minus the millage equivalent without increases from inflation and reassessments. 

The district can either rollback the rate to cancel out the added value or it can advertise a property tax increase and hold hearings, the option officials chose, though the  total levy remains the same as last year.

The district reported earlier this month that the increase will cost the owner of a home with a fair market value of $300,000 about $8.82. The owner of a non-homestead property with a fair market value of $600,000 will pay a tax increase of about $23.52

Officials projected a budget shortfall of up to $18 million after Fulton County mostly froze property values. Residential and commercial growth increases came in better than expected and closed the gap to about $4 million. 

Support real journalism. Support local journalism. Subscribe to The Atlanta Journal-Constitution today. See offers.

Your subscription to the Atlanta Journal-Constitution funds in-depth reporting and investigations that keep you informed. Thank you for supporting real journalism.

X