Following its third and final public hearing Thursday night, the City Council of Peachtree City voted 4-0-1 (with Terry Ernst absent) to keep its Maintenance & Operation millage rate at 6.756 for the coming year. The city reduced the bond millage rate slightly, from 0.314 to 0.309 mills, for a total millage of 7.065.
Financial Services Director Paul Salvatore noted at the Aug. 23 hearing that property assessments rose 6.1 percent in 2016, which would result in a net property tax increase for affected homeowners. A house valued at $275,000 would cost about $33 more in taxes per year. The new millage rate is expected to generate close to $14 million in city revenue.
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