The Fulton County Board of Education is reducing its portion of the property tax rate. However, since property values increase, the reduced rate will still mean a tax increase for most residents.
The school board will hold three millage rate public hearings to fund the 2023 budget with a partial millage rollback to offset increases in property assessments.
“I’m proud to say for the last six years we have either had a partial rollback or maintained a flat millage rate, keeping us the lowest in metro Atlanta,” said Board President Julia Bernath. “All while remaining committed to providing resources toward the academic success of our students and increasing the salaries for our employees.”
The proposed millage rate for next year will reduce the current millage rate from 17.590 to 17.490, and if approved August 11, will continue to be metro Atlanta’s lowest school tax rate for the 13th straight year.
❓ What is the Millage Rate?: The millage rate is your property tax rate. Your city, county, and school system all set a millage rate. That combined number becomes your overall property tax rate. One mill represents $1 of tax on every $1,000 of taxable property.
“The investment by our local taxpayers allows us to generate enough revenue to fully fund our budget and meet our priorities,” said Marvin Dereef, the school system’s Chief Financial Officer. “Because of the strong financial management of the Board, we project it will not be necessary to tap into our reserves for the FY2023 budget.”
Even though Fulton County Schools’ tentative millage rate of 17.490 mills is a reduction, it is legally defined as a tax increase because it does not equal a full millage rollback to offset increases in property assessments.
As a result, Georgia’s Taxpayers Bill of Rights requires three millage rate public hearings to be held.
All concerned citizens are invited to the public hearings on this tax increase to be held at the South Learning Center at 4025 Flat Shoals Road in Union City at 6 p.m. on July 19, and on August 11, 2022, at the North Learning Center at 450 Northridge Parkway, Sandy Springs, Georgia at 11 a.m. and 6 p.m.
The School Board is expected to adopt the final millage rate on August 11, following the third public hearing.
More information on the proposed rates is available at the school system’s website at www.fultonshools.org.
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