The Board of Assessors recently released the 2017 Tax Digest, which indicated a 5.52% overall increase in property assessments throughout the City of Savannah. State Law requires taxing entities that experience an increase in its tax digest to calculate a “rollback rate,” which is a millage rate that will generate the same amount of revenue as the previous year’s millage rate minus new construction or annexation. Due to the higher Tax Digest, the City’s rollback rate for 2017 is 12.022 mills.The proposed millage rate, which was tentatively adopted in the 2017 Budget, is 12.480 mills. Although the proposed millage rate is above the rollback rate, the rate remains the lowest millage rate since 1987 and a 29% reduction from two decades ago. In addition, the millage rate has remained the same since 2013.

It is recommended that City Council amend the Revenue Ordinance of 2017; adopt a tax rate on real and personal property of 12.480 mills on the dollar (0.01248) or $12.48 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 $1,000.00 in assessed value.

Approval