The city received notice of its second year-over-year increase in the real and personal tax digest for 2014 as a result of the revaluation of real property tax assessments. Notwithstanding this increase in the overall tax digest for real property, the digest has dropped by about five percent since the city’s incorporation.
The tentative rate will cause an increase in total property taxes by 8.64 percent due solely to the revaluation of real property tax assessments.
This tentative increase will stem from a property tax rate of 2.74 mills. To avoid this tentative tax increase, the millage rate could be rolled back to 2.522 mills. The proposed tax increase for a home with a fair market value of $325,000 is about $28.34 and the proposed tax increase for non-homestead property with a fair market value of $1.07 million is about $93.74.
By keeping the property tax rate at 2.74 mills since incorporation, one of the lowest millage rates of any similarly-sized city within the immediate Atlanta metro area, individual property owners may see an increase (or a decrease) in their real estate taxes in 2014, depending on whether individual property gained or lost value this year. The city of Dunwoody does not have direct control or influence over the valuations of the tax assessor’s office.
In accordance with state law requirements, Dunwoody will hold three public hearings to receive comment from taxpayers on aspects of the recent revaluation of real property tax assessments.
The public is invited to attend information meetings Monday at 6 p.m. and again at 7 p.m. at city hall, 41 Perimeter Center East. The city will hold an additional information meeting June 24 at 7 p.m. at city hall. The city council will vote on a final tax rate for fiscal 2014 at the June 24 meeting.