Property tax hike proposed for PTC

Mon, 06/04/2007 - 2:19pm
By: John Munford

Meetings set for Tuesday, Wednesday at 6:30 p.m.

The first draft of the 2007-2008 budget for Peachtree City includes a quarter-mill tax increase and a dip of nearly $550,000 into the city’s cash reserves.

All that could change of course as the City Council begins working on the budget in two workshop meetings at City Hall set for 6:30 p.m. Tuesday and Wednesday.

The .25 mill increase amounts to a $20 hike on the property tax bill for a home with a valuation of $200,000. The city would also reap the benefit of any property tax increases based on the increased value of homes from property reassessments, which varies from parcel to parcel.

The first draft of the budget is typically the version initially proposed by the city manager and is subject to changes from council before it is officially adopted.

Last year, the quarter-mill tax increase was attributed to the hiring of three new police officers and three new firefighters.

Overall as currently projected, property taxes make up 27 percent of the city’s anticipated revenue for the year, followed by sales taxes at 19.9 percent, “other” taxes at 18.1 percent and the special purpose local option sales tax for transportation projects at 6.2 percent. Also included are 7.3 percent in revenues from a budget carryover and 6.7 percent for charges for services.

Nearly 39 percent of the city’s proposed general fund budget is devoted to police, fire and EMS expenses. The city is also expected to spend 17.4 percent on culture and recreation and 14.1 percent on its public works department.

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