In what has become a decades-long tradition, the City of Marietta has, once again, chosen to hold the line on tax millage rates. Staying the course for the 24th consecutive year, the City announced a proposed millage rate of 4.692 mills, identical to the previous year's rate. According to a recent City of Marietta announcement, despite the unchanged millage rate, an uptick in tax revenue is anticipated. This is due to the yearly obligation of the board of tax assessors, which reassesses property values based on current market conditions, potentially raising them when property prices in the county climb.
The City, however, appears to mitigate the potential burden these reassessments could place on homeowners. A Floating Homestead Exemption, or Property Assessment Freeze, has been in place since 2002, letting the taxes on owner-occupied residential properties remain pegged at their original purchase value – a freeze sustaining until a property is sold. This strategy helps cushion the financial impact for residents, grappling with the ceaseless dance of property valuation.
Marietta's governance is rooted in transparency and encourages public discourse on its fiscal decisions, including the millage rate. Thus, Georgia law necessitates that the City host a trio of public hearings. These gatherings serve as forums for citizens to voice their opinions on the revenue increase before the adoption of a tentative budget and finalization of the millage rate. Concerned residents can mark their calendars for the upcoming hearings at Marietta City Hall Council Chambers, on Wednesday, with sessions at 9:00 a.m. and 6:00 p.m., and again on July 9 at 9:00 a.m.
The home stretch of this process culminates with the Marietta City Council's vote on the millage rate, scheduled for the evening of June 9 at 7:00 p.m. This fiscal constancy by the City offers not only a predictability appreciated by its inhabitants but also stands as a testament to Marietta's efforts in striking a balance between generating necessary revenue and maintaining taxpayer reprieve.
