For the second year in a row, Demorest is keeping its millage rate steady, but that doesn’t mean there won’t be a tax increase.
At a called meeting Thursday night, the city council voted to keep the current tax rate of 6.16 mills. Since the council did not roll back the millage rate, property owners will see a 16.51% increase in property taxes this year. This increase is due to reassessments in the city.
According to documents provided by the city, a home with a fair market value of $175,000 will see a tax increase of $61.11 over last year. The city will increase its coffers by approximately $61,401 in property taxes over last year due to the reassessment of existing property and new growth added to the digest.
Before voting on the millage rate, the council opened the floor for the last of three required public hearings. Only a few citizens attended the meeting, and no one spoke during the hearing.
The Demorest City Council also held a public hearing for the city’s 2024 budget. No citizens spoke at that hearing either.
The 2024 general fund budget, as presented, was balanced with revenues and expenses being equal at $2,828,720, an increase of $370,213 over last year’s budget.
