The Gwinnett County Board of Education has approved its Fiscal Year 2025 budget, which is set to include property tax increases for many county residents.
The new budget lowers the school system's millage rate by 0.1 mills, but that number is not enough to constitute a full rollback, meaning residents who saw their tax assessments increase this year will see property tax increases. The average homeowner in Gwinnett County is expected to see an increase of just over 4.5 percent.
The millage rates will be 19.10 for Maintenance and Operations and 1.45 for the debt service rate. Funds generated by the M&O millage pay for the day-to-day operations of the school system, including employee salaries, instructional materials, student transportation and school utility costs, according to a release by GCPS. The debt service rate pays down the School Board’s long-term debt from bond referenda passed over the years to pay for school construction.
The board held three public hearings to discuss the millage rate reduction prior to approving the budget. The first hearing was held on July 3 at 6 p.m. The second and third public hearings took place on July 10 at 11:00 a.m. and 6 p.m.
http://accesswdun.com/article/2024/7/1252173/gwinnett-county-board-of-education-announces-millage-rate-reduction-property-tax-increase