A second and final public hearing will be held at 8 a.m. Wednesday to be followed by a vote on the Fiscal Year 2018 budget by the Cobb County Board of Education at 514 Glover St., Marietta.
No tax increase is included with the present tax rate that is expected to remain at 18.9 mills with a millage tax rate equal to $1 per $1,000 of assessed value - the same millage rate since Fiscal Year 2008.
That means the homeowner of a $206,700 home in Cobb, the median home value, pays $1,374 in general fund school taxes at the present 18.9 millage rate, including the standard homestead exemption of $10,000.
Going into effect July 1 through June 30, 2018, the FY2018 budget of $1,026,574,520 includes a 1.1 percent one-time bonus for all school employees, totaling $8,195,000.
Also, health insurance for classified employees will increase by $3.6 million to $23 million.
Teachers’ retirement will increase from 14.27 percent to 16.81 percent to be $15.5 million.
Also of note is that Cobb teachers have received higher raises and more pay than the state in all previous years, according to Cobb County School District Chief Financial Officer Brad Johnson, with Cobb teachers to earn a FY2018 base salary of $44,281 compared to the state FY2018 base salary of $35,116.
Information: cobbk12.org/CentralOffice/finance/2018Budget.
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