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SUWANEE'S PROPOSED MILLAGE RATE TO REMAIN AT 4.93

Post Date:08/05/2016

The City of Suwanee has proposed a millage rate of 4.93 mills, the same proposed rate used in the adopted FY 2017 budget and the same rate used by the City over the past four years.

That rate, however, is higher than the calculated rollback rate of 4.687 mills – this is the rate that would be expected to generate the same total revenue as the previous year.

City Council is expected to adopt a fiscal year 2017 millage rate at its August 23 meeting. Because the proposed rate is anticipated to generate a 5.18 percent increase in property tax revenues, due to rising property values, the City of Suwanee will hold three public hearings on this increase.

Millage rate public hearings will be in Council Chambers on the second floor of City Hall on:

  • Thursday, August 11 at 5:30 p.m.
  • Tuesday, August 23 at noon
  • Tuesday, August 23 at 6:30 p.m.

The proposed 4.93 millage rate will result in a property tax increase of 5.18 percent. This proposed increase for a home with a fair market value of $260,000 is approximately $25.27 and an increase of $53.46 for a nonresidential property with a fair market value of $550,000.

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