After unveiling the proposed fiscal year 2023 operating budget on Tuesday, Cobb County government on Thursday officially posted a notice of a tax increase that also will be subject to several public hearings in July.
The proposed budget of $1.15 billion does not include an increase to any millage rates, including the general fund, the primary source of revenues that comes from property taxes.
But due to a 12.63 percent increase in the Cobb tax digest this year, that constitutes a tax increase according to state law, since a “roll back” in the millage rate to equal the current FY 2022 budget of $1.04 billion is not included.
Public hearings must be held by the Cobb Board of Commissioners advertising a tax increase, and they are scheduled as follows, with adoption scheduled for July 26:
- Tuesday, July 12 at 9 a.m.
- Tuesday, July 19 at 6:30 p.m.
- Tuesday, July 26 at 7 p.m.
A release from Cobb government Thursday detailed the proposed millage rates that have been proposed for the FY 2023 budget, which would take effect Oct. 1:
- General Fund 8.46 mills;
- Fire 2.99 mills;
- Debt Service (Bond Fund) 0.0 mills;
- Cumberland Special Services District II 2.45 mills;
- Six Flags Special Service District 3.50 mills.
The proposed budget would include revenues totalling $865 million from those millage rates, compared to $768 million in the current budget.
Most of the rest of the revenues would come from Cobb water system revenues.
Similarly, the Cobb Board of Education announced this week it also will be holding public hearings next July since it is retaining its millage rate for fiscal year 2023 with additional revenues.
The county has not yet posted the full FY 2023 budget on its website as Finance Director Bill Volckmann mentioned on Tuesday; here’s a copy of what was presented Tuesday to commissioners that runs 41 pages.
The budget would add 147 new full-time positions throughout county government, add a merit raise, raise the minimum wage to $17 an hour and add other recruitment and intention incentives to address that Cobb officials have said are critical staffing shortages.
Most of the increase in the tax digest, a projected $50 billion, is due to rising property assessments.
Related:
- Proposed Cobb FY 2023 budget would create 147 new positions
- Cupid holding ‘All-In Cobb’ town halls in June and July
- Lower Roswell Road project questioned as construction nears
- Cobb tax digest projected to grow by 10.49 percent in 2022
Get Our Free E-Mail Newsletter!
Every Sunday we round up the week’s top headlines and preview the upcoming week in the East Cobb News Digest. Click here to sign up, and you’re good to go!
