Impact
WARD / COUNCILMEMBER: City-wide
$ IMPACT:
Title
Public Hearing and adoption of the 2020 Millage rate.
Body
ISSUE AND BACKGROUND:
The FY21 budget approved by council included revenue projections based on 8.99 mills. This is the last 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 and July 24. A press release was sent to the Marietta Daily Journal on July 10th and was sent again on July 24th. It has also been posted on our City website. This is the last required public hearing. Additional hearings were held on July 20th at 7:00 pm and August 3 at 10:00. This is the adoption of the millage rate.
RECOMMENDATION / REQUESTED ACTION:
Recommend adoption of the millage rate of 8.99 for tax year 2020.