 UPDATED:
03/02/20081
City of Suwanee
Summary: This
Gwinnett city is experiencing explosive growth and, thereby, a significant
increase in its tax digest. The opportunity exists this year to pass the
benefits of that growth on to the city's taxpayers, but that will most likely
not happen.
At the time that the city adopted
its millage rate, the official net tax digest amount had yet to be provided by
the county Tax Commissioner. City finance personnel
anticipated a 12.5% increase in the tax digest based on certificates of occupancy
issuances and other local indicators.
Suwanee adopted a general fund
(maintenance & operations) millage of 3.820 although, based on the
finance staff's own numbers, the mathematical millage was 2.216. Although
Suwanee has budgeted for $1,534,160 in property tax dollars to fund its
2005-2006 budget, the proposed rate (a 1.604 difference, 72% higher than
necessary) would overtax the property owners of Suwanee by at least $1,110,310.
The city received its official
net tax digest number in early September; the digest was slightly lower than
expected. The mathematical millage based on the official net tax digest is
2.441.
The rate adopted by the city will
take at least $867,118 more from the taxpayers than is required to fully
fund the adopted budget; slightly less than the city would have realized based
on its own projections, but still considerably higher than necessary.
The owner of a $150,000* home in
Suwanee will pay $229.20 in city property taxes to fund the M&O portion of the
budget, $82.77 more than his/her fair share this year.**
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*assessed value.
**This calculation does not consider
exemptions which may lower an individual's actual tax bill.
1 Narrative updated to describe
calculations based on official net tax digest
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