The Marietta Daily Journal – BoC lowers property tax rate by 0 2 mills

MARIETTA — Residents will see slightly lower property taxes and some business owners will have a chance for tax incentives after the Cobb Board of Commissioners cleared the way for a lower millage rate and approved two enterprise zones Tuesday night.

In a 4-1 vote with south Cobb Commissioner Lisa Cupid opposed, commissioners lowered the property tax rate by 0.2 mills. That’s a savings of $6 annually for a home valued at $100,000, $14 for a $200,000 home and $38 for a $500,000 home.

Cupid says she’s concerned about the loss of revenue to the county. The county will lose $4.3 million by lowering the rate that sets property taxes.

The average home price in Cobb is $158,000, Cupid said.

“We’re looking at about $10 for each homeowner,” she said. “For that, what is it worth to see our public right-of-ways mowed? For that, what is it worth to see the hours of some of our facilities lengthened?”

Chairman Tim Lee responded to Cupid’s worries by recalling the discussion that took place when the millage was increased in 2011. Lee said the board promised to lower the property rate when it was possible.

“Our budget moving forward is sustainable,” he said.

via The Marietta Daily Journal – BoC lowers property tax rate by 0 2 mills.