In a move aimed at keeping homeowners' expenses in check, the City of Dunwoody has announced its intent to maintain the current property tax rate for the upcoming year, offering a financial reprieve to residents amidst fluctuating economic conditions. The city's millage rate is set to remain at 3.040 mills for 2024, with a notable one-mill reduction for homestead properties, effectively bringing their rate down to 2.040. In a pursuit to provide additional financial stability, Dunwoody officials have chosen to uphold a freeze on the assessed values of these properties, according to the City of Dunwoody press release issued on June 13.
Given the local government's announcement, homestead property owners in Dunwoody won't be facing an increase in their city tax bills this year; however, to meet statutory obligations, the City of Dunwoody has disclosed a 5.81 percent uptick in property taxes based on DeKalb County's new property tax assessments, but this will be slightly offset by the City of Dunwoody's continued tax breaks for homeowners, even there are these enticing benefits for homeowners the increase in the tax assessment may lead to concerns among property owners yet to benefit from such exemptions. Dunwoody officials have planned a series of public hearings at the Dunwoody City Hall to provide residents with the opportunity to voice their concerns and learn more about the tax rate proposal and its implications.
The scheduled public hearings are as follows: Wednesday, June 26, at 6 p.m., Thursday, June 27, at 8 a.m., and Monday, July 8, at 6 p.m., with all meetings open to the public for commentary and discourse on the matter. Residents and stakeholders are encouraged to attend these sessions to better understand the actions of their municipal representatives, as well as to actively participate in discussions that have substantial effects on their financial well-being and community rapport.
While the millage rate stays unchanged, the compliance with state law requires that the increased value of assessments against last year's metrics be showcased, representing a 5.81 percent increase in property taxes which indicates that overall revenue for the city will see an uptick, despite the tax rate holding steady for individuals in homesteaded residences, the DeKalb County reassessments will invariably influence the economics of the entire community, which may raise queries as the public hearings approach. For those concerned with municipal fiscal policies, attendance at the upcoming gatherings could provide valuable insight into the City of Dunwoody budgetary future and their personal financial horizon.
