Suwanee’s proposed millage rate to remain at 4.93

Suwanee will conduct the final two public hearings to discuss the city’s proposed millage rate at noon and 6:30 p.m. Aug. 23 in Council Chambers on the second floor of City Hall, 330 Town Center Avenue.

Suwanee has proposed a millage rate of 4.93 mills, the same rate used in the adopted fiscal year 2017 budget and the same rate used by the city the past four years. This rate is higher than the calculated rollback rate of 4.687 mills, the rate that would be expected to generate the same total revenue as the previous year.

The proposed 4.93 millage rate will result in a property tax increase of 5.18 percent. This proposed increase for a home with a fair market value of $260,000 is approximately $25.27 and an increase of $53.46 for a nonresidential property with a fair market value of $550,000.