Decatur’s commission approved a tentative 6/10ths millage increase Monday, part of that due to the pending $40 million purchase of the United Methodist Children’s Home. That equates to about a $1,050,000 increase in tax revenue, which shakes out to an annual $145 per home owner based on a home costing $500,000.
Assistant City Manager Andrea Arnold pointed out that this is assuming the DeKalb County tax digest increases five percent over 2016.
The increase in the general fund is 2/10ths of a mill, which comes to about a $350,000 increase in tax revenue. This will be used to pay for, among others, power, maintenance, utilities, insurance and security at the UMCH. According to the current timetable, the city will take over the property in the fall once the Home’s employees vacate.
The other 4/10ths increase is in the debt service fund millage, equating to about $700,000. This will be used to make the first principal payment on City Schools Decatur’s $75 million general obligation bond, passed by voters in Nov. 2015. The total of that first payment comes to $1,165,000 and is due by August 2018.
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