The city of Roswell is tentatively proposing a lower property tax rate.
Also known as a millage rate, the proposed rate for fiscal year 2022 of 4.718 mills, which is 4.8% lower than the prior year’s millage rate of 4.955.
If the proposed millage rate is formally approved by mayor and council, Roswell’s property tax rate will be the lowest it has been in more than 30 years.
City council will hold three public hearings to consider the proposed millage rate and to hear public comment. The first reading will be Aug. 23 at 7 p.m. during the mayor and council meeting. The second discussion will be Aug. 25 at 6 p.m. during a special called mayor and council meeting and the final reading will take place Aug. 30 at 7 p.m. during another special called mayor and council meeting. The Aug. 30 meeting will be when mayor and council approved the final millage rate.
If the 4.718 millage rate is approved, the City of Roswell expects to collect the same or less in property tax revenue as compared to last year. For example, a home with a fair market value of $450,000 (assessed value of $180,000 or 40%) in 2021 will pay approximately $849.24 in property taxes to the city of Roswell, as compared to paying $891.90 in 2020 based on the same assessment.
What exactly is a millage rate?
A millage rate comprises two components — the Maintenance and Operations (M & O) portion, which funds basic city services like public safety and parks, and the Debt Services portion, which funds the repayment of voter-approved, bonded debt.
Roswell’s proposed FY2022 millage rate of 4.718 mills represents a reduction in both components compared to FY2021:
♦ A decrease of 1.8% for the M & O portion (from 4.705 to 4.618); and
♦ A decrease of 60% for the Debt Services portion (from 0.250 to 0.100)
In 2018, Roswell City Council lowered the millage rate to 4.955 from 5.455 —a level it had been kept at since FY 2009 — to help offset the impact of increased property assessments in Fulton County.
In November 2018, voters in Roswell approved the adoption of a “floating” homestead exemption. This exemption capped the annual increase to a property tax bill, starting in 2019. Citywide Roswell residents realize more than $3.7 million in tax savings annually — an average of $129 per household— as a result of Roswell’s homestead exemptions, which include the floating exemption, as well as exemptions for those age 65+ and disabled veterans.
All meetings will be held in person in Council Chambers at Roswell City Hall, 38 Hill Street. The meetings will also be livestreamed. For links to the livestream options, visit www.Roswellgov.com/MeetingVideo.
For more information, visit www.Roswellgov.com/PropertyTaxInfo.