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Article: ALPHARETTA LOWERS MILLAGE RATE
- Article from:
- US Fed News Service, Including US State News
- Article date:
- June 3, 2008
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The city of Alpharetta issued the following press release:
The City of Alpharetta will significantly reduce the millage rate it applies to property taxes in Fiscal Year 2009 to 5.750 mills, a reduction of 0.498 mills from the City's 2008 rate.
In spite of the reduction, the City will be required to advertise a property tax increase. Georgia law requires the City to compute a "rollback millage rate" that would produce the same total revenue after reassessments as had been received from property taxes in the previous Fiscal Year. Due to projected reassessments, the City's millage rate for Fiscal Year 2009 will increase property tax revenues by 7.06% over the rollback rate, so by law a tax ...