MARIETTA, Georgia — Marietta says it will keep its property tax millage rate unchanged for the 25th straight year, even as the city expects to collect more tax revenue than last year.
The proposed rate is 4.692 mills, the same as last year. But because property values have risen, the unchanged rate will generate additional revenue, triggering a state-required public-hearing process.
City officials said the increase is tied to reassessments by the county board of tax assessors, which is required to review property values and adjust them when recent sales show rising fair market values.
Marietta pointed to its Floating Homestead Exemption, also known as a property assessment freeze, as a way the city has limited the impact on owner-occupied residential properties. The exemption, implemented in 2002, freezes city tax assessments for qualifying homes at their original purchase value until the property is sold.
The city will hold three public hearings on the revenue increase at Marietta City Hall, 205 Lawrence St. They are scheduled for 9 a.m. on July 8, 6 p.m. on July 9, and 9 a.m. on July 28.
The City Council is expected to vote on the millage rate at its 5:15 p.m. meeting July 28.
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