Dunwoody calls Special Called Meeting for 8 am Monday to set 2018 Ad Valorem Tax Rate

Monday, June 18th
Dunwoody City Hall
4800 Ashford Dunwoody Rd

Dunwoody, GA 30338

8:00 a.m. - Watch Live

Agenda

• SECOND READ: Ordinance to Establish the 2018 Ad Valorem Tax Rate

ITEM DESCRIPTION
Public Hearings and Ordinance to establish the 2018 Ad Valorem Tax Rate. 

BACKGROUND
The proposed millage rate is a levy of 2.74 mills or $2.74 for every $1,000 of the assessed value of property (about 40% of the fair market value.) This rate applies to both real property and personal property for businesses. Three public hearings, two advertisements in the Crier, a press release, and posting to our website are all required to adopt the proposed millage rate. Staff has addressed each of these required steps.

Collection of the ad valorem taxes will contribute to General Fund revenues for the general operations of the City including police, public works, community development, and administration; as well as capital projects. Increases in the digest over time should offset inflationary increases in the costs of providing services as well as the costs of new programs approved by Council.

This year’s digest projects a 13.45% increase in revenue (~$1 million) over the prior year. This figure consistently drops throughout the calendar year as appeals are settled. Due to the assessment freeze on homestead property, most of the increase is for commercial property. No one owning a home when Dunwoody incorporated is paying more for the same property as they did in 2009 with this credit. Also, no one who purchased since 2009 is paying more tax than when they acquired their homestead, except in cases where the property was improved. Differences from the budget in property tax revenues will be combined with other variances and subsequently allocated by Council through the normal budgetary process.

RECOMMENDED ACTIONS
Staff recommends adopting the ordinance to establish the 2018 Ad Valorem Tax Rate.

• Approval of Intergovernmental Agreement with DeKalb County for Distribution of 2018 HOST.

• Resolution to Approve the Service Delivery Strategy.