Three public hearings will be held by the Cobb County Board of Education to receive public comments on its plan to increase property tax rates by 7.48 percent - though keeping the same rate of 18.9 mills.
These hearings will be held at 11 a.m. July 11 and noon and 6:30 p.m. July 19 at the Cobb County School District (CCSD) Board Room, 514 Glover St., Marietta.
Cobb County Board of Education members will establish the millage rate during their 7 p.m. July 19 meeting, also in the CCSD Board Room.
In compliance with the Taxpayer’s Bill of Rights state law, CCSD officials announce they tentatively have adopted a general fund millage rate of 18.9 mills - the same rate since at least 2013.
For the 2018 fiscal year from July 1 to June 30, 2019, the CCSD is expecting to see an increase in tax revenue of 8.21 percent, yielding $38,583,621 in more revenue.
This additional revenue will be applied toward the higher cost of student instruction due to enrollment growth and to ease budget constraints caused by reductions in state revenue, according to a CCSD statement.
The proposed tax increase for a house with a fair market value of $300,000 is around $144.76; and the proposed tax increase for non-homestead property with a fair market value of $425,000 is about $223.72, the CCSD statement added.
To collect the same revenue as last year and avoid an increase in taxes of 7.48 percent, the millage rate would have to be decreased to 17.584 mills which is defined as the “roll-back” rate as described in the Georgia Taxpayer’s Bill of Rights, the CCSD statement added - something the Cobb County Board of Education is not planning.