The Gateway Marietta Community Improvement District (CID) Board of Directors will meet Tuesday to vote on keeping the same tax rate of five mills for this calendar year.
This millage rate has been in effect since the formation of this CID in 2014, one of 20 CIDs in the metro Atlanta area.
A Community Improvement District is a self-taxing district established by property owners to improve local infrastructure and public safety and give property owners more control. CIDs are managed by a seven-person board of directors who are selected by other property owners. Another benefit to businesses is that the entire Gateway Marietta CID is in an Opportunity Zone.
That means, when two or more new jobs are created, businesses may be eligible to receive $3,500 in Georgia State Income Tax Credits for five years for each new job. Taxes received from Gateway Marietta CID property owners in 2014 were $209,444, $274,216 in 2015 and an anticipated $275,793 this year.
This money is being used for public safety and landscaping projects. Information: GatewayMariettacid.org/notices.
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