Impact
WARD / COUNCILMEMBER: City-wide
$ IMPACT:
Title
Public Hearing for the 2020 Millage rate; there will be no vote on this date.
Body
ISSUE AND BACKGROUND:
The FY21 budget approved by council included revenue projections based on 8.99 mills. This is the first of three required public hearings before the formal adoption of the 8.99 millage rate. Tax information was received from Cobb County on June 26, 2020. Per the information provided, the City would need to roll back the millage rate to 8.728 to not advertise a tax increase. In comparison, last year's millage rollback was calculated at 8.537.
The official notice, and all required information, was posted in the Marietta Daily Journal on July 10th. It will be posted again on July 17th. A press release was sent to the Marietta Daily Journal on July 10th and will be sent again on July 17th. It has also been posted on our City website. This is the first required public hearing. Additional hearings will be held at 10 am and 6:45 pm on Aug 3rd. The adoption of the millage rate will be an agenda item on the 6:45 meeting on Aug 3rd.
RECOMMENDATION / REQUESTED ACTION: This is the first of three public hearings on the 2020 millage rate adoption.