The Powder Springs City Council will hold three public hearings this month on the adoption of a millage rate that will require an increase in property taxes by 18.97 percent, according to a city statement.
These hearings on this tax increase will be held at 6 p.m. Wednesday and noon and 7 p.m. July 16 in the City Council Chambers, Powder Springs Community Development Building, 4488 Pineview Drive, Powder Springs.
The proposed increase will result in a rate of 9.5 mills, an increase of 1.515 mills.
Without this proposed tax increase, the millage rate will be no more than 7.985 mills.
The proposed annual tax increase for a home with a fair market value of $175,000 would be around $104.84 and, for non-homestead property with a fair market value of $200,000, would be about $121.20.
By a 3-2 vote June 4, the Council approved the Fiscal Year 2019 budget that includes the first millage rate increase in at least 10 years.
With average annual increases of $58 to $88 to residents, the tax increase - from 8.5 to 9.5 mills - is needed to increase services, grow staff and enhance public amenities with the new downtown city park, according to the city’s Finance Director Diana Belanger.
Without the millage increase, Belanger said there would be a budget shortfall of $384,435.
The balanced $18,633,938 budget is effective July 1 through June 30, 2019.
FY19 Budget Draft: CityOfPowderSprings.org/DocumentCenter/View/4649
Information: CityOfPowderSprings.org
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