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Director Campbell outlines 2024 millage options; council closes hearing with no public comment
Summary
At the second public hearing on the 2024 millage rate, Director Campbell said the advertised rate is 3.646 mills and a rollback rate would be 3.516 mills, which would reduce FY2024 revenue by roughly $491,482; no public comments were received and the council closed the hearing.
Director Campbell presented the city's second public hearing on the proposed 2024 millage rate, saying the advertised rate is 3.646 mills per $1,000 of assessed value and that a rollback rate of 3.516 mills would reduce projected FY2024 property tax revenue by about $491,482.
Campbell framed the millage-setting process as a funding strategy, explaining that Fulton County assesses property and that assessed value is 40% of fair market value. "Again, the advertised millage rate is 3.646 or 3.646 per 1,000 of assessed value," Campbell said, and he later noted, "A rollback rate of 3.516 would generate $21,204,607 or $491,482 less in revenue for fiscal year 2024." He also said the FY2024 property tax budget is approximately $21.7 million, using a 97% collection assumption.
Why it matters: property tax revenue makes up a substantial portion of the general fund and pays for public safety, administration and capital improvements; even small changes in the millage can shift the available surplus the council allocates. Campbell told the council the FY2024 tax digest is roughly $6.2 billion, up about $284 million (4.8%) from the prior year, with $222 million attributed to reassessments.
Council members asked for clarification about the budget impact. A council member asked, "What would the impact be on the fiscal year '24 budget if we were to adopt the rollback rate?" Campbell responded that adopting the rollback would yield about $491,000 less revenue than budgeted and that the previously noted projected surplus of roughly $700,000 already reflected a rollback assumption. Campbell described property tax revenue as accounting for about 29% of the general fund.
Campbell also identified a recommended parks bond millage increment of 0.272 mills to cover annual debt service on the parks bond and reviewed historical millage trends: the city held a roughly 4.614 rate for its first decade, shifted to 3.986 for several years, and adopted a 3.646 rollback in 2023. He noted the advertised rate and the schedule for the public process: this was the second hearing and a third public hearing and planned adoption were scheduled for July 29 at 7 p.m.
Mayor (S2) opened the public hearing for comments and, when no members of the public came forward, closed it. The council then ended the recess and returned to the work session.
The council is scheduled to consider adoption at the next hearing on July 29.
