Suwanee’s proposed millage rate to remain at 4.93

Suwanee officials are recommending a millage rate of 4.93 mills, the same proposed rate used in the adopted FY 2017 budget and the same rate used by the city over the past four years. The city will hold three public hearings to discuss the proposed rate at 5:30 p.m. Aug. 11, at noon and again at 6:30 p.m. Aug. 23 at City Hall, 330 Town Center Ave.

The City Council is expected to adopt the FY2017 millage rate at its Aug. 23 meeting. Despite maintaining the millage rate at 4.93 mills, Suwanee anticipates a 5.18 percent increase in property tax revenues due to rising property values. For a home with a fair market value of $260,000 the increase represents approximately $25.27. For a nonresidential property with a fair market value of $550,000 the increase is about of $53.46.