City of Roswell issued the following announcement on August 31.
Roswell City Council has approved a property tax rate—also known as a millage rate—for fiscal year (FY) 2022 of 4.718 mills. This rate is 4.8 % lower than the prior year’s millage rate of 4.955 and the lowest the rate has been in more than 30 years.
Roswell’s property tax rate was formally approved at the Monday, Aug. 30 Mayor and Council Meeting, which was the final of three public hearings on the topic. The City of Roswell’s proposed millage rate of 4.718 enables the City to meet its FY2022 budget, while still reducing the rate from FY2021.
The 4.718 millage rate includes a Maintenance & Operations (M & O) component of 4.618 (reduced 1.8% from previous year), which goes toward supporting the City’s General Fund services and programs, such as Public Safety, Recreation and Parks, Transportation, and services offered by other City departments. The Debt Service component accounts for 0.100 of the rate (down 60% from previous year) and is applied to the repayment of voter-approved debt.
Out of the total property tax that a Roswell resident pays each year, City taxes are equal to approximately 15 percent of their total bill. Taxes paid to Fulton County Schools and Fulton County account for approximately 54 percent and 31 percent, respectively. Each government entity determines its own millage rate for its portion.
With the City of Roswell’s 4.718 millage rate, a Roswell homeowner who has a property with a fair market value of $450,000 (assessed value of $180,000 or 40%), will pay approximately $849.24 in property taxes to the City of Roswell.
For more information about property taxes, as well as available Homestead Exemptions, visit www.RoswellGov.com/PropertyTaxInfo.
Original source can be found here.
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