 UPDATED:
03/02/2008
City of Berkeley Lake
Summary: This western
Gwinnett hamlet operates on a 2005 budget of $786,247.90. Of that amount, $350,187
will be funded by property tax dollars. The City Council has adopted a millage rate of
4.35, the same rate as the previous two years, which is expected to bring in at least
$2,650 more than is
necessary to fully fund this year's budget.
The mathematically-correct
millage rate is 3.960 to 4.317.*
The owner of a $150,000** home in
Berkeley Lake will pay $261 in property taxes, about $2 more than what
would be required with a mathematically-correct millage rate.
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* The net tax digest provided by Berkeley Lake
is $81,112,020, which is $5.58 million lower than last year's
$86,694,385. The decrease is highly unlikely in fast-growing Gwinnett and is
pending confirmation. The mathematical millage range above is based, at the high
end on the tax digest provided by the city and, on the low end, on a 2% increase
in last year's values.
**assessed value. This value does not include exemptions, which may lower your actual tax liability.
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