MARIETTA, Ga. — The City of Marietta is proposing a property tax increase, though the millage rate will stay the same.
Each year, the county must reassess the value of properties for tax purposes.
The city said that while the millage rate will be unchanged, because there was more tax revenue than the previous year, the actual property tax percentage is going up.
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“When the trend of prices on properties that have recently sold in the county indicate there has been an increase in the fair market value of any specific property, the board of tax assessors is required by law to re-determine the value of such property (or make a reassessment),” city officials said.
In an effort to offset the potential effects on taxpayers, Marietta officials said they’d instituted a floating homestead exemption or property assessment freeze since 2002.
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“The exemption has frozen property tax assessments of city taxes on residential properties that are owner-occupied at the original purchase value until it is sold. This remains in effect for all owner-occupied properties,” the city said.
Due to the potential for a rate increase, even with the unchanged millage rate, the City of Marietta is required by law to hold three public hearings on the potential tax revenue increase.
The meetings will be held at the Marietta City Hall on the following dates and times:
- July 2 at 9:00 a.m.
- July 2 at 6:00 p.m.
- July 9 at 9:00 a.m.
The full city council is scheduled to vote on the millage rate on July 9 at 7 p.m.
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