Discussions how to pay for city services in Stockbridge could result in a new city property tax. The city last levied a property tax in the mid-1970s.
The council approved staff’s recommendation to advertise a millage rate up to six mills. The final millage rate, expected to be lower, will be set after public hearings in July.
Stockbridge Property Tax Discussions
Stockbridge staff provided the city council with a budget overview on Tuesday, May 30. Staff are estimating the city’s FY 2024 budget will have $26.7 million in expenses. Existing revenues, mainly local sales tax, total $19.9 million. This leaves a $6.8 million dollar shortfall. A new property tax is the presumed option to close this gap.
Before now, Stockbridge residents have paid a property tax worth 1.904 mills for Henry County police services. Because Stockbridge started a new department, this millage rate will rolloff city tax bills. At a minimum, its expected Stockbridge will charge the 1.904 mills. Any amount over this number would be an increase.
If the city charged a property tax of 4 mills, then it would generate about a $450,000 budget surplus. A tax rate above this would have a larger surplus. The max millage rate the city agreed to advertise is six mills. Each mill is equal to $1 in taxes per thousand dollars in accessed value. Georgia accesses taxes on 40% of the appraised property value.
Before finalizing its millage rate, the Stockbridge council must hold three public hearings. Those meetings will take place in July. A city property tax would appear on property owners’ November tax bills.
Budget Factors
The Stockbridge city budget has increased following the new police department and annexation of new residents. The public works department budget is also increasing to cover additional street maintenance. The city budget breaks down as follows:
- 32% public safety
- 31% general government
- 21% public works
- 16% debt service
Debt service is to pay off bond debt. This includes capital funds for the amphitheater, cultural arts center and police department.
Featured image shows property tax options in Stockbridge. Stockbridge photo.
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