Grayson does the math
For FY2005-2006, this southeastern Gwinnett hamlet has budgeted for $133,900 in property tax dollars to fund its $952,557 budget. City leaders have advertised and adopted a nice, “round number” millage of 1.500, up from last year’s equally “round” 1.00.
The mathematically-calculated millage rate, based on current data, is 1.500
The owner of a $150,000 home in Grayson will pay $90.00 in city property taxes.
Because the mathematically-correct rate was a “round” 1.500 mills, we asked for confirmation that the city had correctly calculated the rate.
Mayor Jim Hinkle responded to our inquiry: “I did the calculation myself, and correctly. The process is straightforward and easily accomplished and I was able to figure it out myself.”
It appears that the city may have engaged in the practice of matching expenditures to projected revenue based on a particular millage.
Your Comments