Following the last of its three public hearings about the 2018 millage rate, the City Council of Peachtree City voted 5-0 on Aug. 16 to adopt a combined rate of 6.408 mills.
That reflects a reduction of the bond rate from 0.273 to 0.176 mills, but the maintenance and operation rate will remain the same as last year at 6.232 mills. Financial Services Director Paul Salvatore said the 2018 rate is expected to generate $14.8 million in revenue, based on an average assessed property value increase of 4.9 percent this year. A home valued at $300,000 would have a net increase of $1.56 in taxes.
City Manager Jon Rorie said the current level of tax revenue is necessary to pay for the maintenance and services that support Peachtree City home values.
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