The Cobb Board of Commissioners voted unanimously on a plan to reduce property taxes last week. This vote was the first step in a five-year effort to reduce the general fund portion of property taxes back to pre-recession levels. The millage rate will be reduced from 7.72 to 7.52 mills. Current estimates call for a .20 decrease each year during the next four years and a .10 decrease in the fifth year. Cobb has been able to keep expenses as low as possible, while also providing needed services to the public. Overall, expenses are down by $12.5 million across several areas:
- $4.3 million in unfilled vacancies and reductions in part-time hours
- $2.9 million in reduced transit and solid waste subsidies
- $2.9 million in operational, capital and debt savings
- $2.4 million in reduced health care expenditures
Going forward, $10.1 million of the surplus funds will be used to start the process of systematically lowering the county’s millage rate, pay off outstanding debt and set aside $2.6 million as a buffer during these tough economic times.
Cobb County’s location just northwest of Atlanta combined with its great schools, quality of life and low property taxes make it the ideal place to live in metro-Atlanta. Contact me to find the best homes for sale in Marietta, Kennesaw, Smyrna and Roswell or search for homes on my website.