The Marietta Daily Journal – Millage rate decision today Rate expected to stay the same

18
Jul

The Marietta Daily Journal – Millage rate decision today Rate expected to stay the same

MARIETTA — The Cobb Board of Education is expected to keep the district’s millage rate the same, despite a slight decrease in the amount of money 18.9 mills could collect in countywide property taxes.

The board meets this morning to vote on the millage rate, and if it is approved at the same level, the district could potentially collect about $339.5 million in property taxes during Fiscal 2014, an amount that is 2.08 percent, or $7.2 million, less than what was collected in Fiscal 2013.

Brad Johnson, the district’s chief financial officer, said he wasn’t too discouraged by the 2 percent decrease in anticipated collections. While he expects a revenue loss, it’s much less than in past years.

In 2012, the district collected 5.6 percent less in taxes than the prior year and in 2011, 9.4 percent less.

Five years ago, in Fiscal 2009’s budget, the district collected $425.1 million in property taxes, almost $85.6 million more than in 2014.

Every percentage point is worth about $3.5 million, Johnson said.

via The Marietta Daily Journal – Millage rate decision today Rate expected to stay the same.

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