Suwanee’s Proposed Millage Rate to Remain at 4.93
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The City of Suwanee has proposed a millage rate of 4.93 mills, the same proposed rate used in the proposed FY 2019 budget and the same rate used by the City over the past six years.
This proposed millage rate of 4.93 is higher than the calculated rollback rate of 4.809 mills. The rollback rate is the rate that would generate the same total revenue as the previous year after removing growth added due to re-assessments.
City Council is expected to adopt a fiscal year 2019 millage rate at its August 28 meeting. Because the proposed rate is anticipated to generate a 2.52 percent increase in property tax revenues, due to growth from property value re-assessments, the City will hold three public hearings at City Hall on August 16 at 5:30 pm and August 28 at 12:00 pm and 6:30 pm before adopting the millage rate.
The proposed 4.93 millage rate will result in a property tax increase of 2.52 percent. The proposed tax increase for a home with a fair market value of $300,000 is approximately $30.24 and the proposed tax increase for non-homestead property with a fair market value of $720,000 is approximately $72.58.
The City of Suwanee began the new fiscal year July 1 with a $13.4 million balanced operating budget. This year’s budget represents a 3.4 percent increase over the $12.9 million adopted budget for the recently ended 2018 fiscal year.
Suwanee’s $13,366,910 FY2019 budget includes:
- 104 full time and 17 part-time positions, including five new positions and two position upgrades
- $154,000 for new environmental division within the Public Works department to focus on city properties, right-of-ways, medians, and environmental issues
- $20,000 for Pedestrian and Bicycle Plan update
- $20,000 for 20/20 Strategic Plan update
- $17,000 for right-of-way permitting
- $308,000 capital equipment funding
For more information regarding the City of Suwanee’s FY2019 budget, please visit Suwanee.com and click the Open Budget icon in the center of the page.