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Suwanee Millage Rate Remains at 4.93, Same as Past Eight Years

Post Date:08/07/2020 9:42 AM

After analyzing the 2020 tax consolidation information provided by Gwinnett County, the City of Suwanee is proposing that the millage rate remain at 4.93 mills, the same rate adopted by the city the past eight years.

The proposed millage rate of 4.93 is higher than the calculated rollback rate of 4.762 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-assessment.

City Council is expected to adopt a fiscal year 2021 millage rate at is August 25 meeting.  Because the proposed rate is anticipated to generate a 3.53 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 13 at 5:30 pm and August 25 at 12:00 and 6:30 PM before adopting the millage rate.

The proposed 4.93 millage rate will result in a property tax increase of .168 percent.  The proposed tax increase for a home with a fair market value of $350,000 is approximately $23.52 and the proposed tax increase for non-homestead property with a fair market value of $625,000 is $42.00.

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 3.3% decrease in operating expenditures as compared to FY 2020.

Suwanee’s $13,438,080 FY2021 budget includes:

  • 107 full-time and 16 part-time positions
  • $40,000 cyber security program
  • $30,000 new public works equipment
  • $55,000 replacement police vehicle
  • $37,000 new police equipment
  • $97,000 police dispatch software upgrades
  • $10,000 election equipment

“Development of the FY2021 budget occurred as the financial realities of COVID-19 began to emerge. At this time, we do not know the full extent the pandemic will have on our revenues and expenses. As such, we took a very conservative financial approach for the FY2021 budget,” said Amie Sakmar, City of Suwanee Financial Services Director.

Due to the pandemic, all revenue projections were reduced to recession activity performance using 2008-2012 data.

For more information regarding the City of Suwanee’s FY2021 budget, please visit Suwanee.com and click on the Open Budget icon on the homepage.

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