ROSWELL — Roswell residents should not see an increase in their city taxes if the city’s current tax plan is approved.
The city plans to reduce its property tax rate to offset inflationary increases in property values. The mayor and city council are proposing reducing the property tax rate for fiscal year 2023 from 4.718 mills to 4.463 mills, which is 5.4 percent lower than last year’s rate and, according to city officials, would be the lowest the rate has been in 35 years.
During a council meeting Aug. 29, the city council unanimously approved the first reading of the proposed property tax rate ordinance. If the proposed rate is approved by city council during the second reading of the ordinance Sept. 12, residents should see no increase in their city property tax bill compared to last year.
“Mayor and Council are excited to let our residents know that if this rate is approved, they should see no increase in their City of Roswell property tax bill—despite the property value increases that we have all seen in Roswell,” said Mayor Kurt Wilson. “I applaud Council’s foresight and the work of the whole team in coming up with a budget strategy that has enabled us to reduce the tax rate to help Roswell’s taxpayers.”
Residents can attend the second and final property tax rate meeting on Sept. 12 at 7 p.m. at city hall council chambers or watch the meeting online at www.RoswellGov.com/MeetingVideo.
The proposed 4.463 rate represents the “rollback rate”—a rate that Georgia law requires each tax-levying authority (ex. city, county, school district) to calculate annually based on the total digest of taxable properties located within the government’s jurisdiction. The rollback rate is specifically computed to offset inflationary increases in property values.
❓ 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.
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