Homeowners in DeKalb County will see a significant rise in their property taxes, thanks to rising property values and a tax increase from the DeKalb County Board of Education.
“As Georgia law deems an increase in the property tax digest produced by the reassessments of the Board of Tax Assessors to be a tax increase if the tax millage rate is not rolled back to produce the same revenue as last year, the DeKalb County Board of Education announces its intention to increase the property taxes it will levy this year by 13.44 percentage points,” according to a statement from the school board.
The proposed tax increase for a home with a fair market value of $350,000 is approximately $341.75, according to the statement. The proposed tax increase for non-homestead property with a fair market value of $550,000 would be $546.80.
Three millage hearings will be held regarding the tax increase. Two in-person meetings will be held at the Administrative and Instructional Complex at 1701 Mountain Industrial Boulevard in Stone Mountain on June 12 at 10:30 a.m. and 6 p.m. A virtual meeting will be held on June 20 at 11 a.m.
For homeowners in DeKalb, the school board portion of their taxes can be anywhere from 60 to 80 percent of their total bill. For example, a home in Dunwoody assessed at $206,000 with a homestead exemption pays about $113 in city taxes, and $1,600 in school taxes, which is 80 percent of the total bill.
Many cities take action to achieve a revenue-neutral budget by rolling back the millage rate when properties values are increased. For example, Dunwoody announced the millage rate will remain at 3.040 mills, but reassessment of properties will reflect a change in revenues, so the city intends freeze the rate to allow property owners with homestead exemptions to see little or no increase in their taxes.
“The city of Dunwoody has assisted homeowners by instilling a property assessment freeze,” a statement released by the city said. “Homestead properties that qualify for this freeze would see no increase in their 2023 taxes.”
The freeze does not apply to commercial property owners or those who own rental property or second homes within the city, according to Jay Vinicki, Dunwoody’s assistant city manager.
The city’s freeze also doesn’t extend to the school board portion of a property’s tax bill. While the school board’s millage rate remains at 23.08 mills, the fact that the board doesn’t intend to roll back its millage rate to maintain a revenue-neutral budget, the result is a tax increase for commercial properties and residences.