Cobb chairman hints at proposed tax hike
Even an estimated 7.5 percent increase to Cobb’s tax digest won’t be enough to erase a $30 to $55 million budget deficit, county officials said in a statement Thursday.
The county announced the highest percentage increase to the tax digest since the recession, with the average sales price of a home in Cobb surpassing $285,000.
While the increase is expected to be a boon for schools and the fire fund, the county general fund will see less benefit due to the high number of homestead exemptions.
Chairman Mike Boyce dropped a heavy hint that he would bring forward a proposed tax increase to bridge the gap.
"We knew this $30 million hole was coming years ago, and because the floating exemption prevents the general fund from fully benefiting from the tax digest increase, the board must bring forth a millage rate that will support a quality of life Cobb residents expect,” he said.
Read our in-depth reporting on how the county found itself in a fiscal crunch despite a growing economy: Braves stadium hardly a home run for Cobb taxpayers
In other Cobb news:
About the Author
Meris Lutz is a contributing writer covering climate, the environment and the economy. She is particularly interested in stories that explore the intersections between climate change and labor, markets, health, biodiversity, government transparency and public access to natural resources.
