Suwanee has proposed keeping the city’s millage rate at 4.93 mills, the same rate used over the past three years. As the result of property reassessments, the rate is higher than the calculated rollback rate of 4.769 mills, which would generate the same total revenue as the previous year.
The Suwanee City Council is expected to adopt a fiscal year 2016 millage rate at its Aug. 25 meeting. Because the proposed rate is anticipated to generate a 3.38 percent increase in property tax revenues, Suwanee will hold three public hearings on this increase.
The first of these millage rate public hearings will be at 5:30 p.m. Thursday, Aug. 13 in Council Chambers on the second floor of City Hall, 330 Town Center Avenue. Subsequent meetings will be held at noon and 6:30 p.m. Tuesday, Aug. 25, at the same location.
The proposed 4.93 millage rate will result in a tax increase of approximately $16.10 for a home with a fair market value of $250,000 and an increase of $35.42 for a nonresidential property with a fair market value of $550,000.
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