The Cobb County Board of Commissioners is considering increasing property taxes by 2.53 percent to a millage rate of 7.12, according to a news release issued Monday afternoon.
The proposed annual tax increase for a house with a fair market value of $225,000 is about $14.08, the release said.
For a non-homestead property with a fair market value of $300,000, the proposed tax increase is around $21.12.
Public hearings will be at 6 p.m. today and 4 p.m. July 22 at the Cobb BOC meeting room, second floor, 100 Cherokee St., Marietta.
“The partial recovery of the Cobb real estate market is the primary reason for this modest growth in property values and this corresponding increase in the county’s property tax digest,” according to the release.
However, the commissioners are proposing to decrease the property tax millage rate of the general fund from 7.32 to 7.12, leave the fire millage rate the same at 3.06 and the debt service (bond fund) millage rate unchanged at 0.33 and decrease the Cumberland Special Services District II millage rate from 2.7 to 2.6.
The commissioners are planning to create a 3.5 millage rate for the new Six Flags Special Services District for business owners within that district to pay for such improvements as infrastructure, streets and landscaping.
The property tax millage rates for these five tax districts will be approved by the commissioners following the final public hearing July 22.
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