SNELLVILLE — Mayor and Council approved a millage rate of 4.00 mills Monday, a rate lower than last year’s, meaning many Snellville residents will see a decrease in property taxes this year.
It was a priority of Mayor and Council to do what they could to counter an increase in property taxes following the county’s reassessment of homes in the city, City Manager Butch Sanders said. The current millage rate is 4.588 mills.
“We all understand the financial impact of the reassessment,” said Mayor Barbara Bender. “Even though we are glad to see our housing values increasing, we wanted to help offset the cost of the rising assessments.”
The median house value in Snellville is about $298,000, according to city officials. Based on the new millage, a house with that value will actually see a $70 savings in property taxes this year from $543 to $473.
Mayor and Council recently approved the city’s FY’23 balanced budget of $14.69 million. Taxes collected from this millage is the largest revenue source the city has and are necessary to balance the new budget.
Overall digest growth to $3.2 billion included many new development additions along with the state-mandated property reassessments.