Previous Item | Next Item |
|
|
June 26, 2025 City Council Regular Meeting | |
Title 19. Approval to Amend the 2025 Revenue Ordinance to Adopt the Rollback Millage Rate of 11.749 Mills as the Final Millage Rate for 2025. | |
Strategic Priority Good Government | |
Description 2025 Digest Growth. The Chatham County Board of Assessors has provided information on the 2025 property tax digest for the City of Savannah and the news is good – Savannah is growing. The taxable digest grew 8.8% in 2025 compared to the prior year and the average annual growth rate over the past five years has been 10.3%. Savannah experienced a significant increase in new digest growth (increases due to new or improved properties) in 2025 compared to prior years. The new growth accounted for more than half of the digest’s increase in 2025 and represented $441 million of taxable property value being placed on the tax roll of Savannah. The remaining 4.0% of 2025 growth can be attributed to revaluation of existing property due to inflation.
When the total digest of taxable property is prepared, Georgia Law requires a rollback millage rate must be computed that will produce the same total revenue on the current year’s digest that last year’s millage rate would have produced had not reassessments occurred. The 2025 rollback millage rate is 11.749 mills and is expected to generate $103.3 million in property tax revenue for the City of Savannah. This projection compares favorably to the $101.6 million in property tax revenue assumed in the 2025 adopted budget. | |
Recommendation No action needed - first reading only. | |
Contact Judee Jones, Revenue Director | |
Financial Impact NA | |
Review Comments | |
Attachments Exhibit 1: 2025 Millage Rate Recommendation Letter Exhibit 2: 2025-AMENDED Revenue Ordinance (Redline) Exhibit 3: 2025 Revenue Ordinance Exhibit 4: Ordinance Amendment (WHEREAS) |
|
![]() |