The City of Savannah's 2023 Adopted Budget and Capital Improvement Plan was balanced using a millage rate assumption of 12.20 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 2023. The Board of Assessors recently released the 2023 Tax Digest, which indicated a 12.63% overall increase in property assessments (net digest) throughout the City of Savannah. New growth and other changes in 2023 increased 2.65% compared to 2022 and the value of reassessments grew 9.98% 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 2023 is 11.119 mills. The proposed millage rate of 12.20 mills for 2023 is unchanged from the final millage rate for 2022. While the proposed revenue ordinance amendment indicates a rate of 12.20 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 held at City Hall on June 22nd at 6:30 pm and on July 27th at 10:00 am and 6:30 pm. Members of the public may also submit public comment electronically to clerkofcouncil@savannahga.gov. It is proposed that City Council amend the Revenue Ordinance of 2023; adopt a tax rate on real and personal property of 12.20 mills on the dollar (0.0122) or $12.20 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.

This is a first reading only. No action needed.