The Peachtree Corners City Council approved the fiscal year 2016 budget at its June 16 meeting. The city’s general fund budget of $8.6 million represents an increase of $2.9 million from the fiscal year 2015 budget. The budget increase represents insurance premium tax revenues for the first time.
Business licenses, insurance premium tax and franchise taxes paid by utility companies make up the vast majority of total revenue. There were no increases in any user fees in the budget. The tax millage rate will remain at zero.
The city also received a grant of $242,023 from the Georgia Department of Transportation. The Local Maintenance & Improvement Grant will be used for sidewalk construction along Winters Chapel Road.
“The city continues to be fiscally responsible,” said Mayor Mike Mason. “Peachtree Corners is one of the few cities in the state with a zero millage rate.”
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