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|August 12, 2021 City Council Regular Meeting|
18. Approval to Amend the 2021 Revenue Ordinance, Adopt the 2021 Property Tax Millage Rate, and Adopt the Special Service District Tax Rate for the Water Transportation District
The City of Savannah's 2021 Adopted Budget and Capital Improvement Plan was balanced using a millage rate assumption of 12.739 mills. The millage rate along with the taxable digest, compiled by the Chatham County Board of Assessors, is used to calculate property tax bills for budget year 2021. The Board of Assessors recently released the 2021 Tax Digest, which indicated a 6.56% overall increase in property assessments (net digest) throughout the City of Savannah. New growth and other changes in 2021 increased 3.74% compared to 2020 and the value of reassessments grew 2.82% over that same timeframe. State law requires taxing entities that experience an increase in the tax digest due to reassessments to calculate a “rollback rate.” The rollback rate is a millage rate that will generate the same amount of revenue as the previous year’s millage rate minus new construction or annexation. The City’s rollback rate for 2021 is 12.401 mills.
The proposed millage rate of 12.739 mills is unchanged from the final millage rate for 2020.
While this ordinance indicates a rate of 12.739 mills, Council may consider other millage rates simultaneously. Members of the public are invited to attend three public hearings where public comment will be heard regarding the millage rate. These public hearings will be held at City Hall on July 22nd at 4:00 pm and 6:30 pm and on August 12th at 2:00 pm. Members of the public may also submit public comment electronically to firstname.lastname@example.org.
It is proposed that City Council amend the Revenue Ordinance of 2021; adopt a tax rate on real and personal property of 12.739 mills on the dollar (0.012739) or $12.739 per $1,000 in assessed value; and adopt a special service district tax rate for the Water Transportation District of .200 mills on the dollar (.0002) or $0.20 per $1,000 in assessed value.
Hold a public hearing to receive comments on the recommended millage rate of 12.739 mills. At the conclusion of the public hearing, Council should vote to adopt the final millage rate for 2021.
David Maxwell, Chief Financial Officer
Revenue of $71,877,491
Exhibit 1: 2021 Millage Rate Ordinance.pdf