The Marietta City Council voted on June 12 to approve a balanced budget for Fiscal Year 2020 that includes no service reductions and no tax or fee increases.
Beginning July 1 and ending June 30, 2020, the budget includes a 4.45 percent property tax decrease, according to Marietta Communications Manager Lindsey Wiles.
The reason is the city was able to reduce the tax rate applied towards the Franklin Gateway Redevelopment Bond by paying off a portion of the bond earlier than expected, she said. As a result, homeowners within the Marietta city limits will see a quarter-mill decrease on their property taxes, Wiles noted. Also, Marietta has not raised property taxes in 18 years, she added.
Marietta’s millage rate is 2.788 mills and is expected to remain the same, she said. The city’s overall Fiscal Year 2020 budget is $331 million, which includes the $61.79 million for the general fund budget. The general fund budget provides for general government services, including police and fire services, parks and recreation programs, code enforcement, planning, development and streets and public works maintenance.
In related news, Wiles said the Government Finance Officers Association of the United States and Canada (GFOA) presented Marietta with a Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report (CAFR) for the budget year ending on June 30, 2018.
The award is the highest form of recognition in the area of governmental accounting and financial reporting.
The CAFR is judged by an impartial panel to meet the high standards of the program, which includes demonstrating a constructive “spirit of full disclosure” to clearly communicate its financial story and to motivate potential users and user groups to read the CAFR.
Marietta has received this award for 31 consecutive years.
Information: Marietta’s Finance Department/Budget Division at 770-794-5544 or MariettaGa.gov/307/Documents
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