Although the Cobb Board of Education earlier this month adopted a fiscal year 2023 budget of $1.4 billion without a millage rate increase, they haven’t formally adopted the property tax rate.
That’s because the Cobb tax digest was officially approved earlier this week by the Cobb Board of Tax Assessors.
The Cobb school district fiscal year begins on Friday, and next week, the school board will have the first of three required public hearings on the millage rate.
The 2022 Cobb tax digest has grown by 12.3 percent, to a record nearing $50 billion.
Much of that is due to increased property tax assessments in Cobb County, and the school district is taking in $65 million more in local property tax revenues than it did in 2021.
But because the district is proposing to keep the millage rate of 18.9 mills, that constitutes a tax increase according to state law, and public hearings must be held before the school board sets the tax rate.
Two hearings will take place next Wednesday, July 7 at 11:30 a.m. and 6:05 p.m. in the board room of the Cobb County School District central office, 514 Glover St., Marietta.
The hearings also will be live-streamed on the district’s BoxCast channel and on CobbEdTV, Comcast Channel 24.
The final hearing is July 14 at 6:30 p.m. in the same venue, before the Cobb school board’s monthly business meeting where the millage rate will be set.
The Cobb school district has had a property tax millage rate of 18.9 mills since 2007. State law requires local governments and school districts to advertise a tax increase if they take in more revenue from the previous year and do not roll back the millage rate to reflect the previous year’s revenue amount.
The “roll back” rate would be 16.719 mills.
Cobb County government, which unveiled its proposed fiscal year 2023 budget on Tuesday, also is keeping the general fund property tax rate the same as last year, but revenues are going up.
Three public hearings have been scheduled for July before the Cobb Board of Commissioners is scheduled to adopt the budget on July 26.
You can view more budget and financial information at the Cobb County School District by clicking here.
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