Both the Cobb County and Marietta City school districts plan to maintain their existing millage rates, which will result in increased revenue from property taxes.
The Cobb County Board of Tax Assessors is required to annually review assessed values of taxable property in the county. When trends based on recent property sales show that a property's fair market value has increased, the board is required to make a reassessment of the value.
Georgia law requires local governments, when tax digests are prepared, to calculate a "rollback" millage rate, the rate that will produce the same total revenue as the previous year. Because the school boards do not plan to roll back the rate, three public hearings are required in both districts to allow residents to weigh in on what is essentially a tax increase.
The Cobb County School District has tentatively adopted a general fund millage rate of 18.90 mills, the same as this year's rate. This would result in a 3.81% tax increase, according to the school district.
If the millage rate remains the same, the school district projects it will collect an extra $26 million in revenue from higher property values, according to Brad Johnson, CCSD's chief financial officer.
A rollback rate of 18.206 mills would have maintained revenue the district receives at last year's level.
The Cobb County Board of Education will formally vote on the millage rate at its meeting at 10 a.m. July 16, which will be streamed online on the district's website, www.cobbk12.org.
Public hearings on the Cobb school board tax increase will be held virtually at the following dates and times:
• 11:30 a.m. July 9
To access, visit www.cobbk12.org or call 301-715-8592 or 312-626-6799, and use the meeting ID: 971 1690 8922 and password: 147870
• 6:05 p.m. July 9
To access, visit www.cobbk12.org or call 301-715-8592 or 312-626-6799, and use the meeting ID: 929 1123 8843 and password: 996347
• 9:30 a.m. July 16
To access, visit www.cobbk12.org or call 301-715-8592 or 312-626-6799, and use the meeting ID: 966 8670 2197 and password: 374521
Marietta City Schools' current millage rate is 3.9% higher than the rollback millage rate, according to the school district.
If the rate remains the same, higher property values are estimated to result in a net revenue increase of $2.2 million for the district.
Marietta Schools' rollback millage rate is approximately 17.295 mills.
Citizens who want to speak to the board about the Marietta Schools tax increase can do so at public hearings scheduled at 6 p.m. July 7, and 8:30 a.m. and 5:45 p.m. July 14 at the school district's central office building, 250 Howard Street in Marietta.
The budget adopted by the Marietta school board will require a millage rate higher than the rollback millage rate.
Tuesday, Gov. Brian Kemp signed the state budget, which cuts K-12 education by $950 million, and does not include the 2% raises Kemp had in his original budget recommendations, before COVID-19 caused state tax collection shortfalls.
- Capitol Beat News Service contributed to this report