The millage rate adopted by the Fulton County Commission on Aug. 21 will raise property taxes by 3.74 percent, according to figures released by the county.
The proposed tax increase for a home with a fair market value of $500,000 is approximately $54.40. A non-homestead property with a $750,000 value will pay an additional $96 in property taxes.
The millage rate of 8.87 mills remained unchanged from the previous year, but rising property values brought with them higher taxes.
Commission Bob Ellis proposed lower millage rates during the Aug. 7 and Aug. 21 commission meetings, but those failed. He said commissioners could have sent a signal to residents that they are committed to controlling spending and are sensitive to the property tax burden.
“I also noted that residents are not only dealing with high inflation and rising property values but facing the reality that last year’s state property tax break for homeowners will not be available this year. Bills will go up regardless of the county’s rate and tight household budgets would be stretched even more,” Ellis said.
Sandy Springs’ millage rate, set in its charter, remains unchanged at 4.731. A vote by city residents would be required to change it. By not adopting the rollback rate, city property taxes will increase by 2.19 percent.
The rollback rate is the millage rate at which the city would collect the same amount in property taxes as it did in the previous year.
