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Tuesday May 24th, 2016 4:06PM

Suwanee proposes static millage rate with tax increase

By Derreck Booth Anchor/reporter
SUWANEE - While Suwanee officials want to leave their millage rate alone, the move would amount to a tax increase because of rising property values.<br /> <br /> Officials are proposing a millage rate of 4.93 mills. The rate at which the city would generate the same tax revenue as last year, the rollback rate, is 4.7 mills, according to the city.<br /> <br /> The city has had the same millage rate for the past two years.<br /> <br /> The proposed millage rate would result in a tax increase of about $20.70 for a house valued at $225,000. It amounts to an increase of about $50.60 for nonresidential property valued at $550,000, according to the city.<br /> <br /> The 4.93 rate would generate a 4.89 percent increase in property tax revenue for the next fiscal year.<br /> <br /> The city has scheduled three public hearings on the proposed rate. The first is Thursday, August 14 at 5:30 p.m. Two hearings are scheduled on Tuesday, August 26, one at noon, the other at 6:30 p.m.<br /> <br /> The meetings are in council chambers at city hall. <br /> <br /> Officials are expected to adopt an official millage rate on August 26, following the hearings.
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