During last week’s City Commission meeting, Assistant City Manager Andrea Arnold presented a proposed budget and City millage rates for 2015. The millage rate proposal is for a 1 mill reduction. This would be the result of a half mill reduction in the general fund millage rate and a half mill decrease in the bond millage rate.
However, the proposed tax rate reduction does not necessarily mean that your property taxes will decrease in 2015 compared to 2014. There are a few other factors that could affect your bill. 1) The school system has not recommended a school millage rate yet, which affects for about three-fifths of the tax liability for most Decatur property owners. 2) Your property value this year could increase based on the determination of the DeKalb County property assessor’s office. Summary reports from DeKalb indicate 15 percent growth in property values in Decatur due to revaluation, and 5 percent new growth.
The projected digest growth means that total property taxes paid to Decatur for tax year 2015 will exceed taxes collected for tax year 2014. Due to state law, the City is required to advertise the proposed millage rate reduction as a 5 percent tax increase once the overall digest growth is factored in. For more information, take a look at the tax rate announcement on the City’s webpage here.
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