- By Carolyn Cunningham For the AJC
Kennesaw residents may comment during three public hearings on a proposed property tax increase though the millage rates will remain at 8 and 1.5 - their same rates since at least 2013.
Hearings on this tax increase will be held at 6:30 p.m. July 16 and 10:30 a.m. and 6:30 p.m. Aug. 6 in the Council Chambers, Kennesaw City Hall, 2529 J. O. Stephenson Ave., Kennesaw.
Increases will be .54 mills for maintenance and operations (M&O) and .095 for the bond.
Without this tentative tax increase, the millage rate will be no more than 7.46 mills for M&O and 1.405 mills for the bond.
The proposed tax increase for a house with a fair market value of $200,431 is around $43 more annually for M&O and $7 extra for the bond.
Also, the proposed tax increase for nonhomestead property with a fair market value of $408,312 is approximately an $89 annual increase for M&O and a $16 increase for the bond.
Before the Kennesaw City Council can finalize the Fiscal Year 2019 budget and set a final millage rate, Georgia law requires three public hearings to be held to allow the public an opportunity to express their opinions on the increase.
Kennesaw city officials have announced their intention to increase the 2018 property taxes they will levy this year by 7.24 percent for M&O and 6.76 percent for the bond over the rollback millage rate.
When the total digest of taxable property is prepared each year, Georgia law requires that a rollback millage rate must be computed that will produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had no reassessments occurred.
The budget tentatively adopted by the Kennesaw City Council requires a millage rate higher than the rollback millage rate.