The AJC posted a blurb Friday afternoon that noted that due to a 19% increase in the city’s tax digest this year, Decatur Schools would likely drop the millage rate by a full point next year.
Using this calculation, it looks like a full point millage drop would result in roughly a $240/year savings for a Decatur home valued at $500,000.
Additionally, on the agenda for tonight’s City Commission meeting, Asst. City Manager Andrea Arnold is recommending that the city drop its total millage rate by a point due to a sizable 20% increase in the digest. Ms. Arnold states that 15% of the increase is due to re-evaluations by the county and that 5% is due to new construction.
Ms. Arnold estimates the savings at $240/year for a $500,000 Decatur property.
So ultimately, the millage would lower Decatur taxes by roughly $500/year for a $500,000 property.
All of this millage news obviously comes in front of the backdrop that CSD has requested that the City Commission put a $75 million bond in front of Decatur voters this November. That bond has been estimated to raise taxes on a $500,000 property by $680/year.
Ms. Arnold states that the city will hold the state mandated public hearings surrounding the big millage decrease, in addition to another community budget gathering in the coming weeks.