Cobb County leaders vote to increase millage rate - CBS46 News

Cobb County leaders vote to increase millage rate

Posted: Updated:

After a lengthy public hearing, Cobb County commissioners voted Wednesday night to increase the county’s millage rate for the first time in years.

A millage rate is the rate is the amount per $1,000 of property value that is used to calculate local property taxes.

Commissioners voted 3-2 to set the Fiscal Year 2018 millage rate for the county’s general fund at 8.46, a 1.7 mill increase over last year, but still keeping it among the lowest rates in metro Atlanta.

Commissioners then voted 3-2 to approve the Fiscal Year 2019 budget. The $454,187,061 budget is 12.58% higher than Fiscal Year 2018 and restores the County’s capital replacement schedule.

The votes came after three public hearings and seven town hall meetings in recent weeks.

Those who live in their primary homes in Cobb County will continue to receive a unique tax break in the form of a floating homestead exemption that keeps their contribution to the general fund frozen as the assessed value of their homes rises.

Copyright 2018 WGCL-TV (Meredith Corporation). All rights reserved.